VTB Bank (Kazakhstan) redeemed the first issue of bonds
VTB Bank (Kazakhstan) redeemed the first issue of KZ2C0Y04D904 bonds of the Bank in the amount of 15 billion Tenge during the period of December 11 – 15, 2014.
For investors interested in purchase of the debt instruments of VTB Bank (Kazakhstan), please, be advised that new bonds program of the Bank was registered in July 2014. Partial placement of Tenge bonds KZP01Y05E715 with 5-years circulation period was held by the Bank within the period from October 17 to November 20.
Volume of bonds placement amounted to 85.28 million units to the amount of 8,4 billion Tenge, bond yield before redemption was 9% per annum, coupon rate was stated to be 8% per annum. The Bank’s bonds were assigned the long-term assessment of the international rating agency Standard & Poor’s at BB+ level.
Irina Turaliyeva, Deputy Chairman of the Management Board – Member of the Management Board of VTB Bank (Kazakhstan) JSC SO, noted, “This result is intermediate and assessed by the Bank as positive. The parameters of placement are attractive for investors taking into consideration rating of VTB Bank (Kazakhstan) and meet the prevailing market trend. At the present time the Bank’s bonds are being placed within the frameworks of the bonds program and we invite all investors interested to take part in this program.”
The main investors were the second-tier banks, broker-dealer and insurance companies. The funds attracted as a result of the Bank’s bonds placement will be forwarded to development of retail and corporate businesses.
For reference:
VTB Bank (Kazakhstan) JSC SO is 100% subsidiary Bank of the largest Russian VTB Bank OJSC.
The License of the National Bank of the RK No 1.2.14/39 dated 06.10.2014.
The Bank was assigned the international rating at BB+/Negative outlook by the Standard & Poor’s Agency.
VTB Bank and its subsidiaries form the international financial group keeping its activities at Russian and foreign markets. VTB Group consists of more than 30 banks and financial companies in 20 countries of the CIS, Europe, Asia and Africa. The major shareholders of VTB is the Government of the Russian Federation (60,9%).