RLPC-Kazkommertsbank launches $400 mln loan
LONDON, July 25 (Reuters) - Kazakhstan's largest bank, JSC Kazkommertsbank, said on Wednesday it has mandated the initial lead arrangers and bookrunners for a $400 million, 370-day syndicated trade related loan.
The Bank of Tokyo-Mitsubishi UFJ Ltd (8306.T), Citibank N.A. (C.N), Mizuho Corporate Bank Ltd. (8411.T) and Standard Bank Plc (SBKJ.J) are the successful banks.
Netherlands-based Kazkommerts International B.V., a subsidiary of Kazkommertsbank, is the borrower, which is used solely to raise international financing for the parent company.
The bullet term loan, for which Kazkommertsbank is acting as guarantor, has been launched to senior and general syndication. Proceeds will be used to finance various import and export contracts of the bank's clients and for the partial prepayment of the borrower's loan facility signed in August 2006.
Bank of Tokyo-Mitsubishi UFJ is acting as facility agent.
In June, Kazkommertsbank signed a $300 million loan via initial mandated lead arrangers European Bank for Reconstruction and Development (EBRD), Calyon and SMBCE.
Kazkommertsbank is rated BB+ by Standard & Poor's and Ba1 by Moody's.
