/KASE, May 19, 2016/ – Kazkommertsbank (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE
with the following press-release:
quote
JSC Kazkommertsbank (the "Offeror") has today launched an invitation to
holders of (i) the outstanding USD200,000,000 8.625% Subordinated Loan
Participation Notes due 27 July 2016 (ISIN: XS0262468654; Common Code:
026246865) (the "July 2016 Notes", noting that the interest rate applicable to
the July 2016 Notes as at the date of this announcement is 6.765% per annum),
(ii) the outstanding USD500,000,000 7.50% Fixed Rate Notes due 29 November
2016 (ISIN: XS0276707923, Common Code: 027670792) (the "November 2016
Notes") and (iii) the outstanding EUR750,000,000 6.875% Senior Notes due 13
February 2017 (ISIN: XS0286431100, Common Code: 028643110) to tender
their Notes for purchase by the Offeror for cash.
The Tender Offers are being made on the terms and subject to the conditions
contained in the tender offer memorandum dated 18 May 2016 (the "Tender
Offer Memorandum").
The purpose of the Tender Offers is to acquire a principal amount of the
outstanding Notes pursuant to the Modified Dutch Auction Procedure as part of
the Offeror’s liquidity management, which is aimed at optimising the Offeror’s
liquidity position and cost of debt.
A complete description of the terms and conditions of the Tender Offers is set
out in the Tender Offer Memorandum, accessible for eligible persons from the
Information and Tender Agent on the Offer Website:
http://sites.dfkingltd.com/kkb.
The Dealer Manager is J.P. Morgan Securities plc
(+44 20 7134 2468, em_europe_lm@jpmorgan.com)
The Information and Tender Agent is D.F. King Ltd
(+44 20 7920 9700, kkb@dfkingltd.com;
http://sites.dfkingltd.com/kkb)
unquote
[2016-05-19]