Kazakhstan's Bank TuranAlem (BTA) is understood to be coming shortly with a multitranche deal backed by diversified payment rights (DPRs), according to market sources. The word is that the sole lead is Standard Chartered. This would mark the bank's public debut in that asset class.
Some or all of the tranches are expected to be wrapped, and one source said that the Asian Development Bank (ADB) might end up providing one of the sureties. The ADB has provided guarantees for a $100 million tranche in a closed DPR deal from Kazakhstan's Alliance Bank and for a $100 million piece in a DPR transaction from Kazkommertsbank (KKB) now being marketed.