Kazakhstan’s Halyk Bank has closed its US$300mn syndicated loan, following a tough syndication period. Initial mandated lead arrangers on the transaction are Bank of Tokyo-Mitsubishi UFJ, Calyon and Mizuho Corporate Bank.


The transaction has a tenor of three years, with repayment due on a bullet basis. It pays a margin of 40 basis points per year. The borrower on the transaction is HSBK Europe, Halyk’s Netherlands subsidiary. Halyk Bank is acting as guarantor on the facility.


Syndication was launched over six weeks ago on August 3, and market conditions during the summer didn ‘t help attract banks to the deal. Upon closing, the bank issued a statement saying: “Despite volatile, challenging market conditions and competitive terms, the syndication has been closed successfully and the borrower’s funding requirements met.”