Halyk Bank loan oversubscribed

The US$150mn syndicated trade-related loan for Halyk Bank of Kazakhstan, arranged by Deutsche Bank and Raiffeisen Zentralbank Österreich AG was signed on July 16. After successful pre-syndication and general syndication phases the facility was heavily oversubscribed and the amount increased from US$100mn to US$150mn. The facility has a one-year tenor with a margin of 2.25% pa and carries an extension option of 12 months at each lender’s discretion. The purpose of the facility is tofinance specific trade transactions.

Halyk had total assets as at December 31, 2002 equalling US$1.23bn making it the third largest bank in Kazakhstan .  Share capital at the same date was US$91.03mn. Halyk has a long-term foreign currency rating from Fitch of BB- and Ba1 (foreign long-term deposit) from Moody. In September 2002 Moody’s awarded Kazakhstan an investment grade rating of Baa3.

List of participating lenders:

Mandated lead arrangers: Deutsche Bank AG London; Raiffeisen Zentralbank Österreich AG

Lead arrangers: Alpha Bank AE, London branch; HVB Group (Bank Austria Creditanstalt AG and Bayerische Hypo- und Vereinsbank AG); HSH Nordbank AG

Arrangers: American Express Bank GmbH; Commerzbank (Eurasija) SAO; Dresdner Kleinwort Wasserstein; JPMorgan; Wachovia

Co-arrangers: ABN Amro Bank; ING Bank; Rabobank International

Lead managers: Arab Investment Company; Bankgesellschaft Berlin; Citibank, Kazakhstan; Credit Suisse First Boston, Zurich; HSBC Bank, Kazakhstan; Mashreqbank psc; Natexis Banques Populaires; Sumitomo Mitsui Banking Corp Europe; UFJ Bank Limited

Managers: Adria Bank; Bank of Montreal; Bre Bank SA, Warsaw; Israel Discount Bank of New York; GarantiBank International NV; Bank of New York; First International Merchant Bank Plc