Following a successful syndication, the US$50mn 18-month trade-related syndicated term loan facility for Kazakhstan’s ATF Bank has been signed. The facility is solely arranged by agent Standard Bank London. The transaction was launched at US$30mn and was 67% oversubscribed.
Some 20 banks from 15 countries participated in the facility. Priced at 220bp over LiborR this facility is the first 18-month syndicated loan arranged for a Kazakh bank and the fifth international syndicated loan raised by ATF.
Abu Dhabi Commercial and Wachovia Bank joined as arrangers. Demir-Halk Bank (Nederland), State Bank of India, Mashreqbank, ING Bank, Moscow Narodny Bank and JPMorgan Chase Bank-IBF are co-arrangers. Natexis Banques Populaires, National Bank of Egypt International, HSBC Bank Kazakhstan, Export-Import Bank of the Republic of China and American Express Bank GmbH are lead managers. Bank of Overseas Chinese, BRE Bank, Bank of New York, Alpha Bank, Bankgesellschaft Berlin and Deutsche Bank AG London joined as managers.
ATF Bank is the fourth largest bank in Kazakhstan. The bank’s assets exceeded US$1bn and its net profit reached US$10.1mn at the end of July 2004.