Tsesnabank borrowed debut syndicated loan for a total of $22 m.

/INTERFAX-KAZAKHSTAN, Astana, May 30, 06/ - Kazakhstan commercial Tsesnabank borrowed debut syndicated loan, participants of which 12 international financial institutions appeared, for a total of $22 m. "Initially we planned to borrow 10 m. dollars. However, at consideration of received offer and invitation to participate in deal of other financial institutions bid number exceeded asked number more than 2 times and reached 22 m. dollars," said on the ceremony of signing the agreement Kuat Kozhakhmetov, the chairman of bank's board. He informed that borrowed syndicated loan is intended to spend on refinancing export-import contracts of bank's clients. Head of Tsesnabank explained that credit was given for 6 months with an opportunity of further prolongation for half a year, at that margin is 3.25% APR. European banks Raiffeisen Zentralbank Osterreich AG (Austria) and Bankgesellschaft Berlin AG (Germany) acted as organizers of the loan, in all participants of syndicate, including leading organizers, become 12 international financial institutions, he marked. "In the short term we intend to come to the market of eurobonds," - in particular, he noted in this connection. According to information of K.Kozhakhmetov, currently credit portfolio of Tsesnabank is about KZT38 bn. (current 121.95/$1), about half of which are loans on small and middle business and more than 30% are credits to physical persons. Tsesnabank is middle by size bank of Kazakhstan, which was founded in 1992, its head office is situated in Astana. Bank has branch offices in eight biggest cities of the republic. [2006-05-30]