Kazkommertsbank receives $20 mln syndicated loan

/IRBIS, Nov.18, 99/ - As REUTERS informs, Kazakhstan's biggest private bank - Kazkommertsbank - receives $20 mln syndicated loan after signing an agreement with a syndicate of major international banks this week. The agency informs that syndicated loan was granted for 6 months with the right to prolong for another half years and is consisted of two tranches $10 mln each to be received by Kazkommertsbank by the end of 1999 to finance trade projects of its clients. The syndicate was organized by Citibank Kazakhstan, is said in the news. Following are the banks, members of the first and the second tranches: 1. Citibank N.A., Commerzbank International S.A., ABN Amro Bank, ING Bank N.V., Raiffeisen Zentralbank Osterreich AG; 2. Citibank N.A., Commerzbank International S.A., ING Bank N.V., Bank of New York. This is the sixth syndicated loan to be received by Kazkommertsbank. Previous loan agreement has been signed in March of this year. So far, the bank received syndicated loans for a total of $157 million with $142 million have already been repaid.