Mandated Lead Arranger and Bookrunner, Deutsche Bank AG London today announced the recent signing of the US$ 50mn Syndicated Term Loan Facility for JSC Astana Finance. The facility, which was oversubscribed following successful syndication, was increased from US$ 40mn to US$ 50mn.
Barclays Capital, BayernLB and First Commercial Bank, Offshore Banking Branch joined the transaction in syndication at Mandated Lead Arranger level. Six other banks participated in the transaction, which represents the first time that Astana Finance has raised funds in the syndicated loan market. The transaction follows Astana Finance’s recent successful Eurobond transaction under established GMTN programme arranged by Deutsche Bank and Citigroup.
Astana Finance, rated Ba1 (outlook stable) by Moody’s and BB+ (outlook stable) by Fitch, is one of the leading non-bank financial institutions in Kazakhstan in terms of shareholders’ equity. Astana Finance’s principal business line is providing financial services activities and commercial lending in high-growth sectors of the economy in the City of Astana and other fast growing areas of Kazakhstan.
The Municipality of Astana has expressed through a general comfort letter issued in April 2006 its willingness to maintain and continue its ownership of a blocking interest of Astana Finance JSC, meaning a shareholding not less than 25% plus 1 share. The Municipality of Astana currently owns a 25.5% of Astana Finance’s equity, which is a blocking interest.
The key terms of the loan are as follows:
Tenor: 1 year
Margin: 1.20% p.a.
For further information, please call:
Corporate and Investment Bank
(+44 20) 7545 8572
Press and Media Relations
(+44 20) 7547 1605
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