Kazkommertsbank has mandated The Bank of Tokyo-Mitsubishi UFJ (BTMU), Citi, Mizuho Corporate Bank and Standard Bank as initial mandated lead arrangers and bookrunners to arrange a US$400mn syndicated trade related term loan.
The facility will be used to finance various import and export contracts of the bank’s clients, as well as the partial prepayment under a previous loan facility signed in August last year.
Senior and general syndication has been launched. The tenor is 370 days, with bullet on final maturity. BTMU is acting as facility agent.
“We are delighted to be working with an outstanding team of mandated lead arrangers and are pleased to be continuing our strong relationships with the banks all over the world. We look forward to announcing final results of the syndication once it is completed,” remarks Andrey Timchenko, managing director of Kazkommertsbank.
Kazkommertsbank is the largest bank in Kazakhstan, providing corporate and retail banking. It has a long term foreign issuer credit rating of BB+ by Standard and Poor’s and a foreign long term bank deposits credit rating of Ba1 by Moody’s.