| Astana Finance | ru kk en |
af.kz/en/ |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On Astana Finance JSC successfully placed US$175 000 000 of five-year Notes paying a coupon of 9.000%. The bond was issued by Astana Finance B.V., a Dutch subsidiary of the Company, under the guarantee of Astana Finance JSC and "Leasing Company Astana Finance" JSC. JPMorgan investment bank acted as a sole bookrunner and lead manager for the deal.
In order to achieve maximum investor diversification the borrower visited carefully selected new destinations during the roadshow -, and. Similarly to the debut transaction, the management team of Astana Finance also visited Singapore, Hong Kong, and.
The Company’s attractive profile as a non-banking financial institution and the quasi-sovereign status due to the shareholding of the City of (25.5%) played an important role in the success of the marketing effort. Astana Finance significantly broadened its international investor base, attracting 66 different orders (compared to the orderbook for the debut transaction), with 40 being new accounts to Astana Finance.
Oversubscription of the orderbook (US$231 million) supported significant geographical diversification between Asia (31%), Germany/Austria (21%), UK (20%), (11%), other European countries (12%) and offshore US-based accounts (5%). Private banks found the offering particularly attractive (44%), with asset managers (39%) and banks (17%) also playing an important role.
The new offering was priced referencing the secondary trading levels of Astana Finance’s Notes due 2009 (8.60%), taking into account maturity extension to 2011, which was valued at 50bps, as well as the need for a 15bps new issue premium. Consequently, the new 9.000% Notes were priced at a yield of 9.250%. Later in the day, the bond has traded up to 99.250 from the secondary market.
The proceeds of the transaction will be used for corporate purposes and for the funding of Astana Finance’s loan portfolio.
Fitch Ratings and Moodys rating agencies had assigned a "BB+" and "Ba1" preliminary ratings to the Notes, respectively.
Despite the significant volume of issuance by Kazakh borrowers and the resulting pressure on the primary and secondary market, Astana Finance’s ability to carry the positive momentum from its debut transaction, as well as leverage its strong financial performance and exciting strategic development, together with the continuous support from the Municipality of Astana, enabled it to conclude the transaction again very successfully, in line with the original timeline.
Astana Finance JSC focuses on providing a wide range of high-quality financial and investment services, using the innovative tools and methodologies.
In anticipation of the International Children's Day Astana Finance JSC following principles of humanism, ideals of goodness and justice made donations to Children’s Charity Fund "Ymit-Nadezhda" in Kokshetau.
For immediate release: JSC Astana Finance (the Company) wishes to announce the appointment of the following members of the Management Board of the Company with effect from 5 May 2010:
May 5, 2010 saw the meeting of the Board of Directors of "Astana-Finance" JSC (hereinafter - the "Company") on which the decision on staff changes in the management bodies of subsidiaries was taken.
The Board of Directors of "Astana – Finance" JSC (further – the "Company") situated at the following address: 010000, the Republic of Kazakhstan, Astana, 12 Bigeldinov str., has taken a decision on holding an extraordinary general meeting of the shareholders of "Astana – Finance" JSC with the following agenda: Composition of the Board of Directors of "Astana – Finance" JSC.
FSA signed an agreement with the members of Bank-Conglomerate Astana Finance
updated 09.12.2008