OREANDA-NEWS. December 23, 2009. Kazkommertsbank (Almaty), securities of which are present in Kazakhstan Stock Exchange (KASE) official list, provided to KASE the following press release, reported the press-centre of KASE:

Kazkommertsbank announces today that it repaid the second US 300 million tranche of US 1 billion syndicated loan on 18 December 2009. The syndicated loan was repaid from the Bank's own funds on the date of the maturity of the loan.

This loan was issued in December 2006 and was divided into two tranches: one year Tranche A for US 700 million and a 3 year Tranche B for US 300 million. Tranche A was repaid on 24 December 2007. The deal was arranged by The Bank of Tokyo-Mitsubishi UFJ, Ltd, ING Bank N. V., Standard Chartered Bank and UniCreditGroup.

The purpose of the loan was to finance the international trading operations of the Bank's customers.
 
"Repayment of this syndicated loan marks an important milestone for the Bank, as it is the final repayment that Kazkommertsbank had to make this year. We are pleased to confirm that we have no wholesale international debt maturing in 2010. The past year has been exceptionally difficult for the global banking industry and for banks in Kazakhstan in particular. I would like to use this opportunity to thank all our shareholders and creditors for their trust during this period", - Ms Nina Zhussupova, Chief Executive Officer of Kazkommertsbank, commented.