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Kazakh Kazkommertsbank repays $700 mln loan tranche

Wed Dec 26, 2007 5:29am EST

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ALMATY, Dec 26 (Reuters) - Kazkommertsbank, Kazakhstan's biggest lender, said on Wednesday it had repaid a $700 million syndicated loan tranche.

Many Kazakh banks borrowed aggressively abroad during a long-running credit boom and were hit hard by this year's global liquidity squeeze. Rating agencies have expressed concerns over their asset quality and ability to repay debts.

Kazkommertsbank (KKGByq.L) KKGB.KZ said it had repaid $700 million of a $1 billion loan, borrowed a year ago. The remaining $300 million tranche matures in two years. (Writing by Olzhas Auyezov; Editing by Ruth Pitchford)



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