EBRD prolonged a loan to Bank TuranAlem, extends a credit line to BTA Ipoteka

/IRBIS, Natalya Khoroshevskaya, February 28, 05/ - Bank TuranAlem JSC (Almaty), whose shares are traded under official "A" listing category of Kazakhstan Stock Exchange released an announcement today about the prolongation of a loan term facility for additional to years granted to the Bank and extension of a credit line to BTA Mortgage, its mortgage arm. Syndicated loan for $30 mln was arranged in February 27, 2003 with two A/B tranches. $ 10 mln 4-year A tranche and $20 m B tranche was lent by syndicate of eight foreign banks for 2 year and prolongation option for additional two years. Following institutions participated in facility: Raiffeisen Zentralbank Ostereich AG, Bankgesellschaft Berlin AG, Erste Bank der osterreichischen Sparkassen Aktiengesellschaft, Natexis Banques Populaires, Bayerische Hypo - und Vereinsbank AG, Vereins - und Westbank AG, Dresdner Bank Luxembourg S.A., Adria Bank AG. According to the Bank, loan terms have improved, term facility now has tighter pricing. Same day, the EBRD opened a credit line to BTA Mortgage JSC (Almaty) for a total of $10 m for 10 years. The loan proceeds will be used to finance mortgage operations of the company. The loan has been divided into A and B tranches, $5 mln each. On May 27, 2003 the EBRD granted a loan for $5 mln to BTA Mortgage. According to M. Youldashev, company's president, the EBRD loan was obtained without guarantees from the side of Bank TuranAlem JSC indicating firm market positions the company holds. [2005-02-28]