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Published on 11/26/2012 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.

Development Bank of Kazakhstan gives initial guidance for minimum $569 million 10-year notes

By Christine Van Dusen

Atlanta, Nov. 26 - JSC Development Bank of Kazakhstan set price talk at the high-200 basis points over mid-swaps area for a planned offering of 10-year notes (Baa3/BBB+/BBB) that will total at least $569 million, a market source said.

JPMorgan, VTB Capital and Halyk Finance are the bookrunners for the Rule 144A and Regulation S deal.

The completion of the deal is subject to the conclusion of a concurrent third-party tender offer for some of the bank's existing notes.

Development Bank of Kazakhstan is based in Astana.


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