Bank CenterCredit JSC (Kazakhstan) signed a $100 m. Schuldscheindarlehen agreement

/KASE, April 7, 06/ - Bank CenterCredit JSC (Almaty) has spread information saying: Quotation start Bank CenterCredit JSC has announced about signing of USD100 m. Schuldscheindarlehen syndicated loan agreement. The bank's Schuldschein debut deal was organized by Deutsche Bank AG, London, which acted as the agent and leading organizer. "Mandate, signed by the Bank, presumed borrowing of a USD50 m. loan, - Vladislav Lee the Chairman of the Executive committee said. - However, after deal announcement on the international market, there were received bids for over USD150 m. The Bank decided to choose the most optimal amount of borrowing - USD100 m., which corresponded to the Bank's current needs". 38 foreign financial institutions took part in the deal. Among them were BayernLB Group, BHF-Bank Aktiengesellschaft, Raiffeisen Zentralbank Oesterreich Aktiengesellschaft, AKA Ausfuhrkredit-Gesellschaft mbH, BAWAG P.S.K., Landesbank Sachsen Girozentrale etc. Timur Ishmuratov the Bank's Managing director says, "we have achieved the major goal - to attract new, investors still not very active on Kazakhstan's market, from the so called "German-speaking" countries, Germany, Austria and Switzerland, for whom usage of German legislation was the key factor while taking the decision on participation in the deal". This deal shows that positive dynamics of Bank CenterCredit JSC's growth during latest years, its stable reputation on international capital markets and high quality of assets lets the Bank gradually reduce the cost of its foreign borrowings. Quotation end [2006-04-07]