Deutsche Bank has signed a US$200mn syndicated trade-related loan for Halyk Bank of Kazakhstan. The loan was arranged by Deutsche Bank AG London and RZB and represents the 12-month extension of a US$150m loan signed 12 months ago.
After successful pre-syndication and general syndication phases the facility was heavily oversubscribed and the amount increased from US$150mn to US$200mn. The facility has a one-year tenor with a margin of 1.60% per year (previously 2.25%) and its purpose is to finance specific trade transactions.
As at December 31, 2003, Halyk had total assets of equivalent US$1.82bn making it the third largest bank in Kazakhstan. Shareholder capital on the same date stood at equivalent US$155mn. A year later, the bank’s total assets had grown to equivalent US$1.99bn and shareholder capital to US$167.8m.
Kazakhstan currently has investment grade status from both Moody’s and Standard & Poor’s.