5 Nov 2009 13:15

Kazakhtelecom places $302 mln in tenge bonds

ALMATY. Nov 5 (Interfax) - Kazakhtelecom, Kazakhstan's leading telecommunication operator, has placed 45.5 billion tenge ($302 million) in ten-year unsecured bonds, the company said.

The annual interest rate is set at 6-months LIBOR plus 9%.

The coupons will be paid every six months.

Kazakhtelecom will start redeeming the bonds in equal six-month payments after two years.

The bond placement will be used to refinance external debt and to finance the company's development.