Bank CenterCredit OJSC (Kazakhstan) has borrowed syndicated loan to the sum of $36 m.

/IRBIS, November 25, 03/ - Bank CenterCredit OJSC (Almaty) has spread today press-release which says that on November 25 of 2003 there was held signing of agreement of syndicated loan between Bank CenterCredit OJSC and foreign banks syndicate. The loan has been given for one year with the option of prolonging for one more year. Cost of the borrowed funds is 2.55% over Libor. The deal was closed on the level of $36 m. while the initial starting sum was $30 m. The message says that leading European banks - Standard Bank London, Great Britain, HBB Group, Germany and Bank San Paolo Imi, Italy acted as lead arrangers. The syndicate comprises banks of China, Iran, Turkey, Russia, Germany, Canada, Portugal, United Arab Emirates and France. This is the third syndicated loan borrowed by Bank CenterCredit OJSC. Bank CenterCredit OJSC intends to spend the received money for financing of export- import operations of the bank's clients, more exactly, for export of grain, import of medicaments, combustive and lubricating materials, stationery, computer equipment and software tools. Bank CenterCredit OJSC is one of five largest Kazakhstan banks. As of October 1 of 2003 the bank had 19 branches and 62 cash-settlement offices all over Kazakhstan. Bank CenterCredit OJSC has long-term rating on bank deposits in foreign currency "Ва2" from Moody's Investors Service and "В+" from Fitch Ratings. [2003-11-25]