JSC Bank TuranAlem extends opportunities of Kazakhstani companies to import high-quality goods from US producers28.09.2006 / Press-service
Customers of Bank TuranAlem, Kazakhstan, having interest to purchase goods and services produced by different US exporters now have an access to the medium and long term funding of their import contracts on a highly competitive basis. This became possible after signing by JSC Bank TuranAlem, Toronto Dominion (Texas) LLC and ECA Export-Import Bank of United States the Credit Guarantee Facility agreement ("CGF").
The amount of CGF is 11 mio US Dollars. The amount of the individual transaction which can be realized under CGF is limited to 10 million US Dollars.
The terms and conditions of CGF allows BTA's customers to get the semiannually amortizing trade finance loan for the amount of up to 85% of the import contract and with the re-payment period of up to 7 years. (the maximum repayment tenor depends on the specific of the transaction).
This is a second CGF signed by BTA, the first one for USD 15 million was signed on year 2005 between Bank TuranAlem, Deere Credit (USA) and ECA Export-Import Bank of United States. The experience with first CGF showed its undoubted advantage and preference for the customers both in terms of funding costs and time. There are the a number of obvious advantages which relates not only to the Importer but for the Exporter as well, such as reliable Finance Parties, goodwill and expanded experience in using Trade Finance instruments.