Kazkommertsbank has signed a syndicated term loan facility for US$600mn. Syndication was launched at the end of July for an initial amount of US$400mn, but following an oversubscription the facility was increased.
The Kazakh bank’s transaction attracted a total of 31 banks. Initial mandated lead arrangers and bookrunners on the deal are Bank of Tokyo-Mitsubishi UFJ, Citi, Mizuho Corporate Bank and Standard Bank.
The facility was heavily oversubscribed, and commitments had to be scaled back to sign the facility at US$600mn.
It carries a tenor of 370 days, with repayment due in bullet form upon final maturity. The facility pays a margin of 25bp per year.
Kazkommertsbank is the largest bank in Kazakhstan, and it ranked fourth within the CIS in terms of net assets, behind Russian Sberbank, Gazprombank and Vneshtorgbank.