Bank TuranAlem JSC (Kazakhstan) can increase the amount of syndicated loan

/REUTERS, September 5, 06, IRBIS's title/ - Kazakhstan bank TuranAlem can increase the amount of the borrowing loan up to $1.1 bn. from initially declared $800 m. after the loan participation ended with resubscription, informs Reuters Loan Pricing Corporation with reference to sources in bank circles. The loan is divided into two tranches: 18-month at Libor rate plus 0.35% APR and three-year at Libor rate plus 0.65% APR. Bank of Tokyo Mitsubishi UFJ, Commerzbank and Standard Chartered Bank appear as the organizers of the deal. The borrower is the Netherlands "daughter" of TuranAlem TuranAlem Finance B.V. TuranAlem itself is the guarantor on the loan. Bank plans to spend loan funds on trade financing and refinancing of the loan at $777 m. obtained in September of 2005 for a term of one year at Libor rate plus 0.7% APR. TuranAlem Finance B.V. was assigned "BB+" ratings by Fitch agency, "BB" - by Standard and Poor's and "Ba1" - by Moody's agency. [2006-09-05]