business and economy

Halyk borrows $300 million

By SRI ⋅ September 1, 2008 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(SRI) - Kazakhstan’s third largest bank, Halyk, has signed a $300 million, one-year syndicated term loan, Reuters reported on Friday. According to the arranging banks, the loan was increased from $200 million after an oversubscription.

BNP Paribas, ING Landesbank Berlin, Standard Bank, Unicredit and WestLB arranged the deal, which includes a one-year extension option and pays a margin of 100 basis points over LIBOR.

Proceeds will be used for general financing purposes, including trade-related finance activities of Halyk Bank’s customers.

Halyk raised $500 million in April 2008 and so far is one of the few institutions able to tap into the international bond markets.

Tags: banking, Halyk

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