Kazakhstan’s Bank CenterCredit has closed syndication of its latest US$200mn term loan facility for short-term trade financing purposes. RZB and Citigroup acted as the original mandated lead arrangers.
The loan was oversubscribed in excess of US$220mn and was increased from the initial amount of US$100mn to US$200mn.
The loan is split into two tranches, the first one with a one-year tenor and the second for two years.
Some 39 banks participated in the first tranche raising a total commitment of US$133.9mn whereas 24 banks participated in the second tranche for a total commitment of US$66.1mn.
The margin is 1.80% per year for the one-year tranche and 2.25% for the two-year tranche.
Repayment is bullet. Both tranches are extendable at each lender’s discretion for another one and two years, respectively.
Participation levels on offer were for US$7.5mn, US$5mn, US$3mn and US$2mn.
Mandated lead arrangers are: Alpha Bank, Demir-Halk Bank (Nederland), GarantiBank International, HSBC Bank, HVB Group, ING Bank, MashreqBank, and National Bank of Egypt (UK).
Arrangers are: Bayerische Landesbank, Burgan Bank, Commerzbank, DenizBank, and HSH Nordbank.
Co-arrangers are: Bankgesellschaft Berlin, Bank Muscat International (Bahrain), Bank of Montreal, and Doha Bank.
Lead managers are: Agricultural Bank of China (Hong Kong), Banco Finantia, Bank of Overseas Chinese, CEN-Eurobank, Bre Bank, Commercial Bank of Kuwait, Export-Import Bank of the Republic of China (Taiwan), Finansbank (Holland), ICICI Bank (Bahrain), National City Bank, Nova Ljubljanska banka, Sanpaolo IMI, Piraeus Bank (London), and UBAE Arab Italian Bank.
Managers are: Anglo-Romanian Bank, KBC Bank NV (Dublin), Trade and Development Bank of Mongolia, and United Mizrahi Bank.
Participants are: Adria Bank, Banif-Banco Internacional do Funchal, Bank Muscat, Dresdner Bank, Erste Bank, JPMorgan, and Ost-West Handelsbank.