February 16. Kazakhstani commercial Tsesna Bank late January successfully placed its debut 3-year eurobond offering of $125 MM via its subsidiary Tsesna International BV. The Joint Lead Managers are Citigroup and Dresdner Kleinwort. Coupon is 9.875% per annum.

The placement was oversubscribed and geographically distributed among European (90%), Asian and US off-shore investors (10%).

As stated by Mr. Dauren Zhaksybek, CEO of JSC Tsesna Bank, “We consider the deal being successful, although other Kazakhstani international debt capital issuers were in the market at the same time along with Tsesna Bank. Our debut offering features significant number of quality institutional investors who bought the eurobonds, highly diversified order book that exceeded 50 accounts, as well as considerable participation of funds for such offering.”

Tsesna Bank was established in 1992 and currently the only commercial bank with head quarters in the capital of Kazakhstan, Astana. In compliance with is further development strategy the bank continues to build up its market share by increasing its geographical presence and diversifying its products base, as well as by improving quality of rendered services.