/IRBIS, May 23, 02/ - Halyk Bank of Kazakhstan OJSC (Almaty) whose shares are admitted into Kazakhstan Stock Exchange's (KASE) official "A" listing informed that on May 23, 2002 signing of the agreement about syndicated credit to the bank amounting to USD52m was held. The credit has been granted by syndicate of international banks for the term of 12 months with the option of prolonging for 6 months. Margin on the credit is 2.90%APR in excess of LIBOR 6 - months rate.

The bank's management believes that the long term and low cost of attracted means are advantages of the agreement. Insignificant resigning during syndicating ($52 against $50 that were planned) proves the exact balance estimation of the investors of international market of capitals.

Organizer of the deal having the mandate for conducting is Australian Raiffeisen Zentralbank Osterreich. Dresdner Bank Luxembourg S.A. was included into the group of organizers and Commerzbank AG acted as a co-organizer. American Express Bank Limited was the leading manager of syndicating.

Менеджерами кредита являются Adria Bank AG, Bankgesellschaft Berlin AG, Citibank Kazakhstan, Credit Suisse First Boston, HSBC Bank Kazakhstan, ING Barings, Israel Discount Bank of New York, Mashreqbank PSC, First International Merchant Bank Limited, Westdeutsche Genossenschaft - Zentralbank AG.

Managers of the credit are ABN Amro Bank Kazakhstan, The Bank of New York, BRE Bank SA, Europaisch - Iranische Handelsbank AG, Export - Import Bank of Taiwan, Rabobank International.

It is notable that banks, which came to Kazakhstan financial market for the first time, were among the participants.

The syndicated credit has been attracted for financing trade operations of Halyk Bank of Kazakhstan OJSC corporate clients on delivery of the equipment for food and light industries, road-building machines, equipment for chemical and oil and gas spheres into the country as well as for pre-export financing purposes.

The bank informs that the agreement is the third syndicated credit agreement in its history and it is the biggest and most attractive, by the conditions, after rather long interruption in the international activity.

It is said in the bank's message that signing of the credit agreement symbolizes the beginning of the new stage in Halyk Bank's activity on the international arena evidences about foreign partners' support of the structural changes held in Halyk Bank and positive estimation of the new purposes and guiding lines.

[2002-05-23]