Almaty
On February 4, 2010, Nurbank executed a non-subordinated bond issue amounting to a total of 16 billion tenge with a five-year maturity. This issue was duly registered with the Agency of the Republic of Kazakhstan for the Regulation and Supervision of the Financial Market and Financial Organizations.
The international rating agency Moody's Investors Service assigned the newly issued Nurbank bonds a long-term rating of 'B2/negative'.
The coupon rate for the first year is set at 12% per annum of the nominal value of the bonds. From the second year of circulation, the coupon rate will be reviewed annually (before the beginning of the respective year of circulation) and will depend on the level of inflation. Information about the new rate will be communicated to bondholders a day before the start date of the next coupon period through an announcement on the website of the Kazakhstan Stock Exchange, JSC, as well as the official website of Nurbank, JSC.
The start date of circulation is considered to be the date of inclusion of the bonds in the official list of securities of the Kazakhstan Stock Exchange, JSC. This information will be published additionally.