Kazakh Halyk Bank may place Eurobonds in H1 2010
ALMATY. Nov 26 (Interfax) - Kazakh Halyk Bank is considering a placement of Eurobonds in the first half of 2010, a source at the bank told Interfax.
"There is a proposal to place up to $500 million in Eurobonds. The proposed rate of 10% we consider to be unacceptable. We haven't settled on the volume. We will watch the market, watch the rates," the source said, adding that the placement would be in the first half of 2010, perhaps in the first quarter.
Halyk Bank has repaid $1.7 billion on foreign debt coming due in 2009 and 2010. The next payment, totaling $1.5 billion, is scheduled for 2013.
Halyk Bank was the 15th biggest CIS bank by assets and the third biggest Kazakh bank in the Interfax-1000: CIS Banks ranking as of the end of 2008.