Bank TuranAlem attracted Islamic syndicated loan04.07.2006 / Press-service
Bank TuranAlem attracted Murabaha Islamic syndicated loan in the amount of USD 200 million. The deal was successfully closed by Calyon Corporate and Investment Bank SA and Abu Dhabi Islamic Bank PJSC.
The amount of the deal doubled initial offering and made up USD 200 million. Loan terms are 369 days and 2 years with margin of 0.4% and 0.7%, correspondingly.
The main feature of the loan is its aiming at Near East region investors. 9 banks-creditors joined the Facility, for 3 of them it is the first investment in Kazakhstan. Abu Dhabi Commercial Bank, lead-manager for the deal, participated in the amount of $30 million.
"Having signed the deal, Bank has not only diversified its funding sources but also confirmed its position as innovative bank and the leader in distribution of Islamic financing principles" – says Roman Solodchenko, Finance Director of BTA. "Bank TuranAlem will continue to attract investments through other types of Islamic financing for longer terms".