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Citigroup and Deutsche Bank have launched a 12-month extension and increase of a US$134.75mn term loan for JSC Bank TuranAlem (BTA). This represents a 12-month tranche of the US$245mn facility arranged by Citigroup and Deutsche Bank signed on August 1, 2003 for the Kazakh bank. The facility will carry a margin of 1.5% and will be used for on lending to clients for specific trade transactions.

Both Citigroup and Deutsche Bank are Mandated Lead Arrangers and Bookrunners. The syndication is presently in senior phase with tickets of US$15mn and US$10mn on offer. General syndication will be launched shortly after.

BTA is keen to increase the size of Tranche A and therefore attract participations from a wide variety of new lenders. In this respect BTA has recently undertaken an extensive visit programme to meet with banks in both the Middle East and Asia as part of a global programme of expanding its worldwide investor base.