Sberbank's Kazakhstan subsidiary plans KZT 1 billion tap of 7% bonds

By Marisa Wong

Madison, Wis., March 14 - Subsidiary Bank Sberbank of Russia said it is planning a KZT 1 billion offering of additional 7% subordinated bonds.

The bank sold an initial KZT 1.5 billion of 7% subordinated bonds due 2018 on Feb. 14.

The size of the original placement was 7.5% of the total amount of first issue bonds under the bank's second bond program registered in June 2011.

The add-on bonds will be placed at a special trading session on the Kazakhstan Stock Exchange on March 26.

Based in Almaty, Kazakhstan, the issuer is a wholly owned subsidiary of Moscow's Sberbank.

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