Alliance Bank OJSC (Kazakhstan) signed a syndicated loan agreement for $10 mn

/IRBIS, December 22, 03/ - Alliance Bank OJSC (Almaty) in its press release informed about signing a debut syndicated loan agreement for Alliance Bank OJSC provided by a syndicate of a western banks in amount of $10 mn. The official ceremony was held on December 19. Standard Bank London, one of the leading European banks performed as an organizer of the loan. The list of syndicate's members includes other leading western banks such as Hypo und Vereinsbank AG (HVB Group), Raiffeisen Zentralbank and Union Bank of California. The announcement notes that a given syndicate consists of banks from different countries of the world (England, Germany, Austria and USA in particular), what in bank management's opinion evidences about recognition of Alliance Bank OJSC at international financial market, regardless the bank's debut at international syndicated loans market and small past history. The loan is given for 1 year, the cost of funds is LIBOR + 3,5% APR. [2003-12-22]