Kazkommertsbank attracted a loan for $300 mn for 2 years

/REUTERS, Almaty, Olzhas Auyezov, December 19, 03/ - A syndicate of foreign banks provided the largest in Kazakhstan Kazkommertsbank with a loan for $300 mn, the representative of the bank said to REUTERS. The loans consists of two tranches: one year for amount $187.5 mn has been given at LIBOR + 1.5% APR, two-year for $112.5 mn at LIBOR + 2.0%. A corresponding agreement was signed on Friday in London. Banks plans to use proceeds for financing of trade operations. In April 2003 Kazkommertsbank floated a 10year eurobonds for $500 mn. Kazkommertsbank's assets as of October 1 totaled to $2.7 bn, capital - nearly $295 mn. Kazkommertsbank is governed by its Management Board. European bank for reconstruction and Development (EBRD) possess 15% of bank's shares. [2003-12-19]