On July 24 HALYK SAVINGS BANK OF KAZAKHSTAN OJSC will sign agreement about borrowing of syndicated loan for $150 m

/IRBIS, July 18, 03/ - On July 24 of 2003 in the hotel "Rakhat Palace" (Almaty) HALYK SAVINGS BANK OF KAZAKHSTAN OJSC (Almaty), whose shares and bonds are traded in Kazakhstan stock exchange's (KASE) highest listing category, will sign credit agreement with syndicate of international banks for USD150 m. The bank's representatives informed about it IRBIS agency on Friday. At the official signing of the credit agreement representatives of 29 international banks will be present. Organizers of the deal, who have received the mandate for its conducting, are Raiffeisen Zentralbank Osterreich (Austria) and Deutsche Bank AG (London). The syndicated loan has been presented for 12 months with the option of prolonging for 12 months more. Margin on the loan is 2.25% APR over 6-month rate LIBOR. The loan has been borrowed in order to finance trade operations of big corporate clients of HALYK SAVINGS BANK OF KAZAKHSTAN OJSC for delivering to the republic equipment for food and light industry, road building machinery, equipment for chemical and oil and gas branches, and also for purposes of pre-export financing. [2003-07-18]