Deutsche Bank mandated to arrange $50mn Syndicated Term Loan for Astana Finance JSC
Deutsche Bank AG London (“Deutsche Bank”) has been mandated to arrange a $50mn Syndicated Term Loan for Astana Finance JSC (“Astana Finance”). This will be the first time that Astana Finance raises finance 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 has two principal business lines, namely providing financial services activities and commercial lending, as well as undertaking private equity investments 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 Mandated Lead Arranger will shortly launch the syndication.
The key terms of the loan are as follows:
Tenor: 1 year (plus extension option).
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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