Surveillance: Kazkommerts DPR Co. Dec 07
- ID: 1786896
- December 2007
- Standard & Poors
The transaction is a securitization, through a true sale, of all of Kazkommertsbank (JSC)'s (KKB) U.S. dollar-denominated current and future diversified payment rights (DPRs). DPRs take the form of U.S. dollar-denominated, Society for Worldwide Interbank Financial Telecommunications (SWIFT) MT100 series payment order messages. The payment order messages are a product of KKB's international financial operations. Payment orders are created as a result of KKB's role as a financial intermediary between foreign payors that send funds to Kazakhstan and entities domiciled in Kazakhstan that receive these funds. DPRs include the typical transactions generated offshore (documentary trade payments, foreign direct investment payments, and interest income payments), but exclude payments related to Western Union, credit card payments, and check payments settled through KKB....
Companies mentioned in this report are:
- Kazakhstan (Republic of)
- Kazkommertsbank JSC
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