Citigroup and Deutsche Bank as mandated lead arrangers (MLAs) have been jointly mandated to arrange the extension and increase of a US$190mn one-year tranche of the US$300mn term loan facility for JSC Kazkommertsbank (KKB) dated December 19, 2003.
The MLAs will shortly launch the senior phase syndication to a select number of KKB’s core relationship banks.
The extension is for an additional period of 12 months and the margin will be 1.25% per year.
Kazkommertsbank is the largest bank in Kazakhstan with total assets at December 31, 2003 of US$3.01bn equivalent and total equity of US$316mn.
KKB has long term credit ratings from Moody’s and Standard & Poor’s of Ba1 and BB-