Kazakhstan's Halyk Bank raises syndicated loan of $300 mln

ALMATY. Sept 17 (Interfax) - Halyk Bank has raised a $300 million syndicated loan, comprising two tranches, one with a tenor of one year and the other three years, Kazakhstan's biggest lender said in a statement posted on the Kazakhstan Stock Exchange (KASE) website.

"The loan funds, which will be used to finance general corporate objectives, will allow the bank to further diversify funding sources on attractive terms," the bank said.

The transaction was launched at $200 million, and upsized to $300 million as a result of oversubscription, it said.

"The facility was supported by 12 banks across North America, Europe, Middle East and Asia, demonstrating the international syndicated loan market's strong interest in supporting Halyk Bank's funding objectives," Halyk Bank said. Citi, Abu Dhabi Commercial Bank PJSC, and Commerzbank Aktiengesellschaft acted as bookrunners and initial mandated lead arrangers on the transaction. Citi also served as the sole coordinator on the financing.

According to the National Bank, Halyk Bank ranked first among 21 banks in Kazakhstan in terms of assets with 16.7 trillion tenge as of August 1.

Halyk Bank is controlled by the daughter and son-in-law of the first president of Kazakhstan, Dinara and Timur Kulibayev, through Holding Group Almex JSC with 69.52%, the nominal owner being the Bank of New York with a 28.44% stake. The Bank's shares are traded on the Kazakhstan Stock Exchange, and GDRs on the London Stock Exchange and AIX.