Syndicate of international banks led by Abu Dhabi Commercial Bank, Citibank, N.A., ICICI Bank, MashreqBank psc, Mizuho Corporate Bank, Ltd., UFJ Bank Limited signed an agreement to grant a syndicated loan to Kazakhstani commercial bank Kazkommertsbank for the amount of $400 million.

Citigroup acted as sole bookrunner and agent for this syndicated loan for Kazkommertsbank.

The loan with 364-day tenor and interest rate of LIBOR + 0.65% was launched at $150 million and was significantly oversubscribed by $250 million due to substantial demand from the banks.

The loan was attracted at the lowest ever margin not only for Kazakhstan but for all CIS countries.

KKB, established in 1990, is one of three largest banks in Kazakhstan. As of July 1, 2005, assets of the bank accounted for 761.9 billion tenge, total shareholder’s capital 78.5 billion tenge, common stock totaled 4.999 billion tenge.