ForteBank, JSC announces the successful placement of Eurobonds in the amount of USD 400 mln with 5 years tenor. International rating agencies are expected to assign the issue the following ratings: Fitch (BB) / Moody’s (Ba3). The issue will carry a coupon of 7.75%.

This placement was the first issue of Eurobonds from Kazakhstan private banks for the last 12 years and the first issuance in the modern history of ForteBank. The placement of Eurobonds was a significant step in the execution of the Bank's strategy aimed at strengthening its position in international financial markets and expanding financing opportunities. The raised funds will be used to support the Bank's strategic initiatives and lending to the real sector of Kazakhstan's economy.

‘The interest of international investors in our offering exceeded all expectations. This achievement demonstrates confidence in Kazakhstan's banking system and fidelity to the country's economic course. The successful placement became the indicator of high appreciation by the financial community of our work to overcome the consequences of the banking crisis of 2007-2009 in the united ForteBank. The Bank will continue demonstrating strong growth and commitment to high standards of financial transparency and reliability,’ said Bulat Utemuratov, ForteBank's major shareholder.

The book for the placement attracted a significant number of investors, reaching a peak size of USD 800 mln. Due to strong demand, the bank tightened the pricing by 25 basis points from the initial price thoughts (IPTs). Additionally, the new issue size was upsized from the initially expected USD 300 mln to USD 350 mln and finally reached USD 400 mln to satisfy investors’ demand.

The major part of 90 investors are represented by the investors from the USA (34%), from the UK (30%) and other European countries (25%).

ForteBank would like to thank the managers for their professionalism and efficient work, which contributed to the successful placement.

About ForteBank:

ForteBank – is one of the leading financial institutions in Kazakhstan, that provides the wide range of the banking services for its corporate and retail clients. The Bank follows its strategy of sustainable development, implementing the innovative decisions and meeting the international standards.

For any queries, please contact ForteBank Media Representative:

Ulan Smailov Press Secretary Phone: +77010552522 Email: press@fortebank.com

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