JSC Alliance Bank in Kazakhstan has signed an unsecured 180-day US$23.5mn syndicated loan facility, jointly arranged by RZB and Standard Bank London (agent bank). Some 10 banks from seven countries participated in the transaction. The facility was launched at US$15mn and the borrower elected to take the oversubscription.
Co-arrangers are: Moscow Narodny Bank.
Lead managers are: Bayerische Hypo- und Vereinsbank, Bankgesellschaft Berlin, Hua Nan Commercial, Export-Import Bank of the Republic of China, Persia International Bank.
Managers are: Bank of Overseas Chinese, Bank of Montreal, Parex Bank.
This is the second occasion that Alliance has sought to raise finance from the international syndicated loan market. In December 2003 Standard arranged a US$10mn secured gold pre-export syndicated loan facility for the bank.
There is a bullet repayment. The margin is Libor + 3% per year.
The borrower may request a 180-day extension of the regular maturity date at any time from 60 business days to 30 business days before the regular maturity date. Extension of the facility will be at each individual lender’s option. The commitment of declining lenders will not be extended
Alliance was incorporated in 1999 under the name Irtyshbusinessbank following the merger of Semipalatinsk Municipal Joint-Stock Bank and Irtyshbusinessbank OJSC. In March 2002 Alliance moved its head office to Almaty and registered in its current name. Alliance is regulated by the NBK and licensed to perform operations in tenge, foreign currencies and trade precious metals.