Bank TuranAlem attracted Asian syndicated loan in the amount of USD 110 million04.07.2006
Bank TuranAlem attracted Asian syndicated loan in the amount of USD 110 million through its subsidiary company "TuranAlem Finance B.V."
Initial amount of the loan, USD 50 million, was oversubscribed by 120% because of high interest from Asian investors.
The loan was attracted for general corporate needs, including trade financing and is a debut loan aimed solely at investors of Asian region.
Bank of Tokyo-Mitsubishi UFJ acted as a book-runner and lead arranger for the loan. Kookmin Bank e Taiwan Cooperative Bank, Offshore Banking Branch received statuses of lead arrangers on the same level as Bank of Tokyo-Mitsubishi UFJ. Creditors for the loan were provided by 16 Asian banks.
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 cooperates 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-year term.
Borrower – TuranAlem Finance B.V. is 100% subsidiary company of BTA. Established in 2001, TuranAlem Finance B.V. is an investment attraction instrument for BTA. Senior unsupported received Baa1 rating from Moody’s (Outlook: Stable), BB from S&P (Outlook: Stable) and BB+ from Fitch (Outlook: Stable).