Kazkommertsbank concludes a major transaction
29.06.15 11:44
/KASE, June 29, 15/ – Kazkommertsbank JSC (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release:
quote
JSC Kazkommertsbank (“The Bank”) announces that the Board of Directors of
the Bank on June 22, 2015 made the decision to close a major transaction by the
Bank – whereby the Bank (acting in its capacity of creditor) has opened credit
line to JSC BTA Bank (“BTA”) (acting in its capacity of the borrower) to repay
the debt of BTA to the Bank under (i) the Agreement on simultaneous transfer of
assets and liabilities between the Bank and BTA; (ii) the Agreement on transfer
of liabilities between JSC National Wealth Fund Samruk-Kazyna, JSC
Kazkommertsbank and JSC BTA Bank via credit documentation (in tenge and in
US dollars); (iii) the Agreement of transfer of debt as of 14 November 2014.
The Bank and BTA shall sign an Agreement on opening of credit line, under
which the Bank shall open credit line to BTA with limit of KZT 630,000,000,000
and USD 5,600,000,000 till 30 June 2024 with interest rate of 9% for loan
denominated in tenge and 8% for loan denominated in US dollars. BTA shall
make quarterly repayment on the loan in amount of US$ 334,952 (for USD
denominated loans) and KZT37,682,130 (for KZT denominated loans) in total for
all loans provided with the remaining debt to be repaid at the end of the loan
tenor.
BTA liabilities to the Bank shall be collateralized by collateral on all assets
of BTA, claims of BTA to its borrowers (including claims on collateral), and
other future flows from BTA assets.
Transaction amount constitutes 49.8% of the Bank’s assets. BTA and the Bank
plan to sign the Agreement till 30 June 2015.
For contacts:
Kazkommertsbank
Aliya Nursipatova, Alma Buirakulova, Investor Relations
+7 (727) 258-51-25, E-mail: investor_relations@kkb.kz
Larissa Kokovinets, Public Relations
+7 (