Alliance Bank JSC (Kazakhstan) signed an agreement about borrowing a syndicated loan for $170 m.

/KASE, November 9, 05/ - Alliance Bank JSC (Almaty), whose shares and bonds are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, today spread press-release saying about signing of an agreement about borrowing of a syndicated loan for a total of USD170 m. The agreement was signed on November 7 of 2005. Deutsche Bank AG, London Branch and ING Wholesale Banking acted a leading organizers. Amount of borrowing was increased from $80 m. as a result of considerable exceeding of bids of syndicate's participants. Alliance Bank JSC has first successfully used a new structure of borrowing consisting of two tranches: tranche A and tranche B. Tranche A was borrowed for one year at the rate of 180 basis points over LIBOR, whereas the term and rate of borrowing on tranche B were two years and 225 basis points over LIBOR with the possibility of prolongation by one year. The syndicate comprises 38 banks, among which 24 banks are new participants in such the deal in the history of Alliance Bank JSC's activity: ABN Amro Bank NV, JPMorgan, Anglo-Romanian Bank Limited, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Societe Generale, WestLB AG, Wachovia Bank, National Association, ICICI Bank Limited, Bahrain OBU, United National Bank Ltd, Bank Muscat (S.A.O.G.), Arab Bank plc, Melli Bank plc, Bank Saderat plc, Bank Sepah International plc, FBN Bank (UK) Ltd etc. "It should be noted that debut participation of the financial institutions is also concerned with successfully held road-show in Great Britain and Near East", - the bank says. The borrowed funds will be spent for financing trade contracts of Alliance Bank JSC's clients. Assets of Alliance Bank JSC as of November 1 of 2005 totaled KZT233.4 bn., equity capital - KZT27.3 bn. Alliance Bank JSC has ratings: from Moody's Investors Service - "Ва2" rating of long-term instruments in foreign currency ("positive" outlook), NP rating of short-term instruments in foreign currency and Е+ financial strength rating ("positive" outlook); from Fitch Ratings - "B+" long-term rating, "B" short-term, "D" individual. [2005-11-09]