Kazakh Kazkommertsbank repays $450 mln loan
ALMATY, March 3 (Reuters) - Kazkommertsbank (KKGByq.L: Quote, Profile, Research, Stock Buzz), Kazakhstan's No.1 bank, said on Monday it had repaid an outstanding $450 million of a syndicated loan of $850 million.
Kazakh banks have faced a shortage of liquidity after the global squeeze, prompting concerns about their ability to repay foreign debt.
"The loan was agreed in August 2006 for a total of $850 million and in August 2007 the bank initiated a partial ($400 million) prepayment of the loan," Kazkommerts said in a statement.
Kazakh banks will need to repay a total of about $12 billion this year with little access to fresh funding. (Writing by Olzhas Auyezov)
© Thomson Reuters 2008 All rights reserved
Ads by Career Builder
Tax Manager-Real Estate
Details: ...audit, tax and advisory firm...industry insights and a multidisciplinary range of services. We are currently seeking a Real Estate Tax Manager...day-to-day advisory and tax compliance services * Provide...
Chief Financial Officer Real Estate Developer
Details: Chief Financial Officer Prominent Boston Real Estate Development...experienced Chief Financial Officer and strategic thinker...operational, and financial analysis and advice for all areas of...operations within a real estate field. Must...
Real Estate Accountant/Bookkeeper
Details: ...and growing real estate investment and property management...seeks a qualified real estate accountant / bookkeeper...reconciliation, and payroll accounting...effectively with financial institutions, tenants...
Real Estate Sales Associate
Details: ...opportunities in the real estate industry? Learn...looking for NEW and EXPERIENCED sales...as a full time real estate agent and enjoy unlimited...process - Weichert Financial Services helps keep your...







