Kazakhstan’s Temirbank has signed a 369-day US$50mn syndicated trade-related term loan facility. Standard Bank Plc acted as mandated lead arranger, bookrunner and facility agent for the facility.
Proceeds will be used for general corporate purposes including the financing of trade finance transactions of the borrower’s strategic customers. The deal carries a margin of 1.65% per year and is one year extendible.
The facility was launched at US$35mn and generated an oversubscription which was fully taken up by the borrower.
Maturity is 369 days from the date of signing, while the margin is Libor + 1.65% per year.
Lead arrangers are Bank TuranAlem and HSBC. Co-arrangers are Hypo Alpe-Adria-Bank International, London Forfaiting Company, Bank of New York and Export-Import Bank of the Republic of China.
Lead managers are AKA Ausfuhrkredit, Banif-Banco Internacional do Funchal, Dresdner Bank, and Adria Bank.
As at June 30, 2006 Temirbank was one of the 10th largest banks in Kazakhstan with assets of US$914mn and shareholders’ equity totalling US$135.2mn.
The bank’s primary business consists of retail and corporate banking. It is rated B- (foreign currency long -term) by Fitch and B1 by Moody’s, with a stable outlook.