NURBANK OJSC (Kazakhstan) has signed agreement for prolongation of loan for the amount $63 m.

/KASE, November 01, 04/ - NURBANK OJSC (Almaty), whose securities are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), today informed KASE with official letter about signing on October 26, 2004 agreement about prolongation of syndicated loan for the amount of USD 63 m with syndicate of foreign banks with initial mandate in USD 46 m. Organizers of this loan were largest banks of Europe and USA - Citigroup (USA) и ING Bank (Netherlands). Total number of syndicate participants was 22 banks and investment companies, among them AKA Ausfuhrt-GmbH (Germany), BreBank (Poland), BankMuscat (Bahrain), Demir-Halk Bank (Netherlands), International Moscow Bank (Russia), Trade & Development Bank of Mongolia (Mongolia) и Wachovia Bank (USA). Credit is given for 12 months with interest rate LIBOR+2.40% APR. Debt loan is the fourth credit of NURBANK OJSC, given them by foreign bank syndicate for trade financing. Previous syndicated loan on the amount of USD 32.5 m is acting with maturity date in May of the next year. Funds on credit will be used in financing of commercial operations of bank's clients, namely: import of production equipment for different sectors of Kazakhstan economy, and also export of grain and mineral resources from Kazakhstan. [2004-11-01]