Thanks to a pick-up in cash flows, an $100 million 2006-A tranche backed by diversified payment rights (DPRs) from Kazakhstan's Alliance Bank fully paid down this week, said a source at the Asian Development Bank (ADB), which wrapped the piece.

While Alliance has put its unsecured bonds and loans through a work out, its DPR bonds were never subject to a restructuring.

The amortization of the bonds had previously slowed down due to anemic flows in Alliance's DPR business.

The ADB had also provided a guaranty on a $100 million 2007-C tranche of Kazkommertsbank's DPR program, which fully paid down mid last year.

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