BANK CASPIAN JSC (Kazakhstan) has signed agreement about borrowing a syndicated loan for $65 m.

/IRBIS, Ranida Gabdeyeva, September 2, 05/ - BANK CASPIAN JSC (Almaty), whose shares and bonds are traded in Kazakhstan stock exchange's (KASE) official "А" listing category, today spread press release, which informs, that on September 2, 2005 in Almaty the bank hold official ceremony of signing agreement for borrowing of syndicated loan with syndicate of foreign banks for $65 m. Interest rate is LIBOR+2.3% APR. The loan is for one-year term with possible future prolongation for one year. According to the spread information 22 foreign banks from Europe, USA and Asia took part in this syndicated loan. Leading organizer of the loan were Citigroup and Standard Bank Plc. "Taking syndicated loan certifies about increase of trust to BANK CASPIAN JSC from foreign investors and strengthening of the bank's positions at international financial markets" - press release says. Borrowed funds the bank intends to use in trade financing. The bank informs, that the loan's peculiarity is that primary amount of the loan was $50 m., while the loan was successfully completed at $65 m. [2003-09-02]