HALYK SAVINGS BANK OF KAZAKHSTAN OJSC borrowed $100 m. within the framework of the Program of incoming payments securing
02.10.03 00:00
/IRBIS, October 2, 03/ - The third by the size of assets bank in Kazakhstan -
HALYK SAVINGS BANK OF KAZAKHSTAN OJSC (Halyk Bank, Almaty), whose
shares and bonds are traded in highest listing category of Kazakhstan stock
exchange (KASE), spread press-release today, which says about finishing of
organization of financing in the amount of USD100 m. within the framework of
the Program of incoming payments securing for Halyk Bank. Organizer of this
deal was bank WestLB AG.
Within the framework of this deal Halyk Remittances Finance Company Limited,
which was registered by Halyk Bank in Jersey, made agreement about buying
rights for existing and future incoming payments of Halyk Bank, which come from
21 banks-correspondent in Germany, France, Belgium, Switzerland, Great Britain
and USA.
The press-release notes that this transaction got rating from Moody's Investors
Service on the level of Baa2, that is a precedent because financing for the
bank in Kazakhstan received rating higher than the country's sovereign rating.
This transaction is also the first securing in Kazakhstan and CIS countries.
Funds, which were received within the framework of the deal, will be used for
crediting mid- and long-term projects of Halyk Bank's clients.
David McKage, Managing Director and head of the branch of assets securing of
WestLB in London, commented: "It was pleasant to us to organize and finance
the first deal concerning securing future inflows for Halyk Bank. This deal is
the first one, which has been assigned rating higher than sovereign rating.
This transaction is also the important stage in expansion of the base of Halyk
Bank's investors". Tatyana Lazareva, manager of the same branch, added: "Role
and position, which Halyk Bank takes in Kazakhstan economy, was the major
factor of successful finishing of the first securing in Kazakhstan and CIS
countries".
The Branch of assets securing of WestLB is the leader in organization of deals
concerning future inflows securing. List of organized transactions comprises
such programs in turkey, Egypt, Mexico.
The press-release also gives main results of Halyk Bank's activity as of
September 1 of 2003, which were calculated in compliance with Kazakhstan
accounting standards: assets of the bank - KZT227.183 bn. ($1.540 bn.),
authorized capital - KZT12.073 bn., shareholders equity - KZT27.169 bn., net
income - KZT3.512 bn., credit portfolio-gross - KZT149.2 bn. In total deposit
base of the bank equaling to KZT147.067 bn., population's term deposits were
equal to KZT59.515 bn.
[2003-10-02]