BTA Bank Announces the Satisfaction of All Conditions to the Utilisation of Its Amended and Restated Trade Finance Facility19.02.2013 15:30:47
Almaty, 19 February 2013 – “BTA Bank” JSC (the “Bank”) is pleased to announce that all conditions to utilisation of its Revolving Committed Trade Finance Facility (the “RCTFF”) have now been satisfied. RCTFF, under which the Bank’s commitments totaling approximately U.S.$348,2 million was amended and restated pursuant to the Bank’s recently completed restructuring proceedings. The RCTFF is used for the purpose of enabling the Bank to support the financing of Eligible Trade Transactions (as defined in the RCTFF Agreement).
In accordance with the amendments made to the RCTFF, the availability period and term of the RCTFF were extended until 31 December 2014 and 31 December 2015, respectively. Furthermore, the amended and restated RCTFF will allow the Bank to decrease its pricing under trade finance transactions and expand its trade finance product line to include pre-import cash financing and the financing of domestic trade transactions.
The Royal Bank of Scotland will continue to act as Agent and Security Agent under the amended and restated RCTFF.
The Bank believes that the amended and restated RCTFF is an essential tool which allows it to provide its customers with high quality trade finance services and products on competitive terms.