ATFBank (Kazakhstan) will borrow $50 m. and KZT4.5 bn.

26.09.03 00:00
/REUTERS, Almaty, Oljas Auezov, September 26, 03/ - Kazakhstan ATFBank plans to borrow the annual syndicated loan to the amount of $50 m. with the rate LIBOR plus 2.25% APR and issue five-year bonds for KZT4.5 bn. (about $30 m.) with the coupon 8.5% APR, the bank informed. "Just now we have signed the new mandate, - said the bank's chairman of the board Yerkeblan Okaev at the press-conference on Friday. - This is the next syndicated loan, for $50 m.". "Most probably, in December or in the beginning of the next year we will come to the market with bonds ", - he added. ATFBank, which in September postponed debut of eurobonds to the amount of up to $150 m. because of unfavorable market conditions, chose bank ABN AMRO as the lead-manager of the syndicated loan. Kazakhstan bank intends to use funds of the loan, which can be prolonged for one year, for trade operations financing. [2003-09-26]