The first international securitization from Kazakhstan should be brought to market within the next three to four months, according to Tatyana Lazareva and Julian Turner, in the asset securitization group at WestLB, which has been mandated to execute the deal.
Lazareva and Turner say the deal is for one of the top-three banks in the former Soviet bloc country, but declined to say which one. The top-three banks are Kazkommertsbank, Bank TuranAlem and Halyk Bank of Kazakhstan. Bank TuranAlem has expressed interest in securitization in the past.
The deal will be a $100 million securitization of third-party payments from abroad, says Turner. These payments are known as MT-100 international payment orders. These types of deals are very common in Latin America.