HSH Nordbank as mandated lead arranger has signed a one-year US$50mn syndicated pre-export finance facility for Kazakhstan’s JSC Bank CenterCredit (BCC). The proceeds of the loan will be on-lent to clients of BCC for pre-export finance purposes.
The transaction was well received by the market with commitments received, subject to satisfactory documentation, of US$50mn. BCC elected to accept the increase and the final facility amount was increased from the launch amount of US$20mn to US$50mn.
A total of 21 banks from 12 different countries participated in the transaction.
Lead arrangers were: BayernLB; Erste Bank; GarantiBank International; Sumitomo Mitsui Banking Corporation Europe.
Arrangers were: AKA Aushfuhrkredit; Bank Muscat; Demir Halk Bank (Nederland); Natexis Banque Populaires.
Co-arrangers were: Baden-Wurttembergische; FBN Bank (UK); Finansbank (Holland); Bayerische Hypo- und Vereinsbank.
Lead managers were: Abanka Vipa; Adria Bank; Banif – Banco Internacional do Funchal; Bank Saderat; Bre Bank; Caixa Geral de Depositos, Grand Cayman; DZ Bank; San Paolo IMI.
There is a single bullet repayment and a margin over Libor of 2.20% per year. BCC is rated Ba1 by Moodys Investor Services and B+ by Fitch Ratings.