Centercredit Buys Back $145 Million of Bonds to Reduce Liquidity
Centercredit purchased the notes at a May 11 auction organized by VTB Capital, paying $1,042.5 apiece, the Almaty- based lender said in a statement e-mailed today.
The purchases helped to cut excessive liquidity in foreign currency and reduce debt-servicing costs, Chief Executive Officer Vladislav Lee said in the statement.
The 8.625 percent dollars bonds were issued in January 2007 and had $477 million outstanding before the tender, Centercredit said.
To contact the reporter on this story: Nariman Gizitdinov in Almaty at email@example.com
To contact the editor responsible for this story: Stephen Voss at firstname.lastname@example.org