Temirbank organizes a $5 m syndicated loan for Kyrgyz Ineximbank

/INTERFAX-KAZAKHSTAN, Almaty, October 1, 04/ - Temirbank has organized a $5 m syndicated loan for Kyrgyz Ineximbank. The corresponding credit agreement was signed on Friday in Almaty within the framework of the V conference of CIS and Baltic countries' banks, said a correspondent of "Interfax-Kazakhstan". "This is the first syndicated loan in the history of Kyrgyz banking sector", - says the message of Temirbank's press-service, which was spread during the ceremony of document's signing. This loan has been given for 6 months with the option of prolonging for half year. The syndicate, in accordanc ewith the message, comprises Latvian Trasta Komertsbank, and also Kazakhstan banks ATF, TuranAlem, CenterCredit and Eurasian bank. The bank intends to spend the borrowed funds for financing trade contracts of its clients. Ineximbank at present is one of the biggest banks of Kyrgyzstan. Temirbank is Ineximbank's big shareholder, which bought 46% of shares last year. At the same time, 25% of shares in Kyrgyz bank's authorized capital belong to European bank for reconstruction and development. Temirbank is one of ten biggest Kazakhstan banks. For Temirbank this is the second successful loan organized for a bank-resident. [2004-10-04]