Trade Finance Magazine considers the loan for Food corporation as "The deal of 2003" - Kazkommertsbank JSC (Kazakhstan)

/IRBIS, Assel Omarova, April 19, 04/ - Kazkommertsbank JSC (Almaty), whose securities are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, has spread press-release, which says that Trade Finance Magazine, which is among the group of editions Euromoney, recognized syndicated loan totaling $85 m. for Food Contract Corporation CJSC (FCC), which had been organized by Kazkommertsbank JSC and Societe Generale, as "The deal of 2003". Rabobank, Natexis, BMCE, Garantibank, HSBC, BCEN, EBRD acted as the participants of the syndicate. The loan received in December of last year has been given for 9 months and is meant for commercial purchase of 1 m. tons of grain from Kazakhstan agricultural goods producers within the framework of realization of the state food program and its further export. This loan is the biggest of those, which were ever given to Kazakhstan agrarian sector. Moreover, this is one of the first cases when international banks directly credit Kazakhstanс food company. "Estimation of international specialized journal says about the serious level of the development of technologies, professionalism, quality of services, which we render for clients", - said Deputy director of the Project financing department of Kazkommertsbank JSC Sergey Mokrousov. Experts of the journal note good structure of the deal. He loan was secured by the pawn of Kazakhstan grain as grain receipts and export contracts signed with the first-grade buyers at the world market with the form of payment as letters of credit opened in international banks. The message notes that it's the first case when Kazakhstan bank receives the award as the international organizer of the deal. Till that time Kazkommertsbank JSC several times was called "The best" in its region, and also in 2002 Euromoney journal called it "The best borrower" in Kazakhstan, now the bank has been given the global award in competition, where most successful deals all over the world were compared. [2004-04-19]