Kazkommertsbank JSC repaid USD 300,000,000 Senior Notes (ISIN: XS0625516157/US48668AAA79)
11 May 2018, Almaty, Kazakhstan.
Today JSC Kazkommertsbank (“the Bank”) has repaid in full at maturity its 7-year USD 300,000,000 Senior Notes issued in May 2011 with a coupon rate of 8.5%.
“Today Kazkommertsbank repaid in full its Senior Notes in line with the agreed repayment schedule using its own funds and in continuation of an impeccable track record in its debt service history over more than a quarter century. This is, I believe, a clear indication of our Bank’s stable liquidity position. In addition, I would like to note that the repayment of these relatively expensive funds will further reduce our average costs of funding, thus improving the Bank’s profitability and reducing its reliance on debt funding in FX”, said Mr. Ulf Wokurka, CEO of Kazkommertsbank.
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