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 the international financial operations of KKB, the leading bank in Kazakhstan. 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 (FDI) payments, and interest income payments), but exclude payments related to Western Union, credit...
Companies mentioned in this report are:
- Kazakhstan (Republic of)
- Kazkommertsbank JSC
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