13th Feb 2009 10:24
13 February 2009
Joint Stock Company 'Halyk Savings Bank of Kazakhstan'
US$40 million loan partially guaranteed by OPIC
On 5 February 2009, Joint Stock Company 'Halyk Savings Bank of Kazakhstan' ('Halyk Bank') successfully obtained a loan for the amount of US$40 million in part guaranteed by the Overseas Private Investment Corporation ('OPIC'). The loan will be used for the development of Halyk Bank's mortgage portfolio and was arranged and funded by Citibank N.A.
The loan is divided into two tranches:
- US$30 million for 15 years guaranteed by OPIC; and - US$10 million for 5 years, under the direct risk of Citibank N.A. The grace period for the repayment of principal on both tranches is two years.
In current market conditions the interest rate on the loan is particularly attractive for Halyk Bank.
The transaction is the second loan Halyk Bank has signed under the OPIC guarantee after the successful transaction in 2006 for the amount of US$30 million which was used to finance small- and medium-sized enterprises.
Commenting on the loan arrangement, CEO of Halyk Bank, Mrs. Shayakhmetova said, "This loan arrangement highlights Halyk Bank's current position as one of the most reliable banks in the Kazakhstan financial sector, and the continued support of the international financial institutions".
For further information please contact:
|
Halyk Bank
Zhanara Aikimbayeva Director, International Department Assel Atinova Head, Financial Institutions |
+7 727 259 07 96
+7 727 259 04 30 |
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