ABN Amro and Deutsche Bank AG London have launched the senior phase syndication of the extension and possible increase of the US$62mn syndicated trade-related loan for ATF Bank in Kazakhstan.

This transaction represents the 12-month extension of the US$62mn loan signed, amended and restated in October and November 2003. The proceeds of the extension facility will be used to finance specific trade contracts of select customers of the borrower. The margin is 1.80% per year.

ATF Bank is the fourth largest bank in Kazakhstan with total assets at July 1, 2004 of KZT146.850bn (US$1.079bn) and total shareholders “equity of KZT14.724bn (US$108mn).  The bank has a long-term credit rating from Moody’s of Ba1.