Bankgesellschaft Berlin (documentation agent) and RZB as mandated lead arrangers have signed a syndicate of lenders into an international debut loan transaction for Tsesnabank in Kazakhstan.
Following an oversubscription during syndication, the total volume has been increased from an initial launch amount of US$10mn to US$22mn.
Proceeds will be used to refinance export and import-related transactions of the borrower’s customers.
The tenor is 180 days (extendable for another 180 days at lender’s discretion). The margin is 3.25% per year with a bullet repayment.
Participation levels of US$2mn and US$1mn were offered with fees of 60bp and 45bp flat.
RZB has committed to US$4mn, while Bankgesellschaft Berlin is taking on US$2.5mn.
Lead managers are Anglo-Romanian Bank (US$5mn), Commerzbank and Rosemount Global Trade Finance Fund (US$2mn each).
Managers are Adria Bank, Banif – Banco Internacional do Funchal, Bank Sepah International, Export-Import Bank of the Republic of China, and Parex banka (US$1mn each) and Raiffeisenlandesbank Niederoesterreich-Wien (US$500,000).
The borrower was established in January 1992 as a private sector bank and is the only commercial Kazakh bank headquartered in the capital Astana.
Tsesnabank maintains a country-wide branch network of 32 outlets with a focus on the central and northern regions of Kazakhstan.