On June 14 of 2003 Development Bank of Kazakhstan CJSC (Kazakhstan) will pay off syndicated loan for $28.0 m

/KASE, June 20, 03/ - Development Bank of Kazakhstan CJSC (Astana), whose bonds are circulating in Kazakhstan stock exchange's (KASE) "А", has informed KASE about the forthcoming redemption on June 14 of 2003 of main debt and charged interest on syndicated loan, which was borrowed from foreign banks group to the amount of USD28.0 m., organizer of which was ING Bank N.V. According to the presented information the loan was given to Development Bank of Kazakhstan CJSC on June 19 of 2002 at the rate LIBOR+2.7% for 360 days with the right of prolongation for more 180 days. Besides, Development Bank of Kazakhstan CJSC has presented to the stock exchange the Law of the Republic of Kazakhstan "About including of changes and additions into Kazakhstan Law "About Development Bank of Kazakhstan" dated June 11 of 2003 #434-II LRK, according to which the bank is allowed to participate in the authorized capital of juridical entities, which are founded by professional participants of securities market (stock exchange, central depository), and also organizations-leasing presenters. Primary activity - rendering of banking activities (excepting attracting of deposits and opening of accounts for physical and juridical entities, excluding opening and maintaining of accounts of conditional deposits, reserve accounts in compliance with agreements on loans that are guaranteed by the state, and also on servicing of investment projects, which are financed at the expense of means of Republican and local budgets). [2003-06-20]