Halyk Bank of Kazakhstan OJSC has signed agreement about syndicated loan for $150.0 m

/IRBIS, July 25, 03/ - Halyk Bank of Kazakhstan OJSC (Almaty), has spread official press-release, which says that on July 16 of 2003 there was signed agreement about syndicated loan for the bank in the amount of USD150.0 m. According to the press-release the credit has been given by the syndicate of international banks for 12 months with the option for prolonging for 12 months. Margin on the credit is 2.25% APR over LIBOR rate. The bank considers the long term and low cost of the borrowed funds as advantages of the credit. According to the message of Halyk Bank of Kazakhstan OJSC it managed to increase sum of borrowing 3 times in comparison with previous syndication (in 2002 the bank borrowed similar loan in the amount of USD52.0 m.). Organizers of the deal, who received mandate for conducting, are Deutsche Bank AG London and Raiffeisen Zentralbank Osterreich. Agent of syndication was Raiffeisen Zentralbank Osterreich. Participants of the credit are Bayrische Hypo- Und Vereinsbank AG, Alfa Bank A.E. London Branch, HSH Nordbank AG, Commerzbank (Eurasija) SAO, Dresdner Bank Luxembourg S.A., JPMorgan Chase Bank, Bankgesellschaft Berlin AG, Citibank N.A., Bahrain Branch, Credit Suisse First Boston, Zurich, Mashreqbank PSC, Natexis Banques Populaires, Wachovia Bank, National Association, American Express Bank Gmbh, ABN Amro Bank N.V., ING Bank N.V., Cooperatieve Centrale Raiffeisen- Boerenleenbank B.A., SB "HSBC Bank Kazakhstan " CJSC, Sumitomo Mitsui Banking Corporation Europe LTD, The Arab Investment Company S.A.A. (OBU), UFJ Bank Limited, Adria Bank Aktiengesellschaft, Bank of Monreal, Bre Bank SA, Warsaw, Israel Discount Bank of New York, Garantibank International N.V., The Bank of New York, Bank Austria Creditanstalt AG, First International Merchant Bank PLC. According to the information of Halyk Bank of Kazakhstan OJSC the syndicated loan has been borrowed in order to finance trade operations of big corporate clients of the bank concerning supplying to Kazakhstan equipment for food and light industry, road-building machinery, equipment for chemical and oil and gas branches, and also for the purposes of pre-export financing. The press-release says that this agreement is the fourth syndicated credit agreement in the bank's history, and the biggest by the sum of borrowed funds and with the best conditions. Borrowing of this credit is the next step of Halyk Bank of Kazakhstan OJSC in financing its clients base in the sphere of international trading. [2003-07-25]