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Bank TuranAlem attracted Islamic syndicated loan

04.07.2006 / 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".

JSC "Bank TuranAlem" – the system-making bank of Kazakhstan, the leader in creation of banking network on the territory of CIS. Bank’s assets exceed $9.2 billion; equity capital exceeds $1.6 billion. In Kazakhstan the Bank confidently holds the leading position among the second-tier banks in the field of trade financing, SME loans and mortgage lending. Bank’s development strategy includes geographical diversification and the expansion of the range of provided services, as well as stable dynamic growth. BTA’s market share exceeds 20% in every major business segment. BTA is in the top 10 banks of CIS by the volume of assets. Bank’s senior unsupported Eurobonds received Baa1 rating from Moody’s. BTA actively collaborates with more than 600 foreign correspondent banks, including CIS and Baltic states. More than 150 banks set blank quotas in favor of BTA on trade financing exceeding $2 billion and up to 3 years.