OJSC "BankTuranAlem" is pleased to announce a successful raising of syndicated loan which was signed on September 7, 2001.07.09.2001
The loan amounting to USD 67.5 mio is considered to be unique in the domestic market in terms of its conditions. It is for the first time that the tenor constitutes 1,5 year, and the rate is the most optimal in comparison with similar transactions of other Kazakhstan banks.
Original request for $50 mln. was oversubscribed to reach $67.5 mln.!
Arranger: ING Barings, London
Maturity of the loan: 360 days.
Rollover option: 180 days.
Rate: LIBOR + 3.25%
Purpose: The funds are intended for the financing of trade operations of the clients of the bank.
- ING Group
- American Express Bank Ltd.
- Dresdner Bank AG.
- Bayerische HypoVereinsbank AG
- Citibank N.A.
- Commerzbank AG
- Mashreq Bank PSC
- ABN-Amro Bank Kazakhstan
- Natexis Banque Populaires
- Standard Bank London Limited
- Bankgesellschaft Berlin AG
- Dai-Ichi Kangyo Bank Ltd.
- Israel Discount Bank of New York
- Co-operative Centrale Raiffeisen - Boeren Leen Bank B.A.
Raiffeisen Zentralbank Oesterreich AG
Already since the beginning of 1999, i.e. year after privatization, Bank successfully enters into the syndicated loans market and since then is active in the area of large international borrowings.
Chronology of raised loans makes possible to follow the tendency of prolongation of maturity, increase of shares of involvement, decrease of rates, that tell us about subsequent and constant improvement of quality of Bank and, consequently, about the growth of trust of international community.
Chronology (history) of large international borrowings.
|1999||July||$13.5 mln.||9 months||Syndicated loan|
|2000||July||$30 mln.||1 year||Syndicated loan|
|2000||August||$20 mln.||9 months||Cotton export pre-financing|
|2001||June||$100 mln.||3 years||Eurobonds emission|
|2001||September||$67.5 mln.||1.5 year||Syndicated loan|
|2001||September||$15 mln.||9 months||Cotton export pre-financing|
Chronology of ratings
|Name of the agency||1998||2001|
|Thompson BankWatch||B+ (long-term)|
C/D (intra-country issuer)
|Moody`s||B2, positive (1/t foreign cur. Deposits)|
E+ (financing strength)
Ba2 (unsecured debt securities)
B (unsecured debt securities)
In terms of equity, the bank is on the 2nd place in the banking sector of Kazakhstan. Equity of the bank, including capital of tier I and tier II, calculated in accordance with the requirements of the Basle committee, came to US$105 mln. and in comparison with the beginning of the year it increased by 35%. Capital increased due to profit capitalization, attraction of subordinated loan EUR10 mln. and emission of subordinated name bonds of US$20 mln. Increase of capital base is the priority and by the end of 2001, the Bank is planning to reach US$120 mln. Consequently, forecast tier I capital is US$100 mln.
By the volume of assets bank is on the 2nd place accounting for 20% of II-tier banks’ assets. The dynamic of growth shows, that with the beginning of the year the indicators increased by almost US$300 mln. and reached US$845 mln.Leadership of the bank on bank services market, stability of finance position, and also bank’s policy on introduction of new programs and products in the sphere of existing services made possible to enlarge depositary base, which lead to the increase of assets. The main direction of Bank is traditional crediting. Loan portfolio in dynamic in comparison with the beginning of the year increased on almost 47% and reached US$549 mln.