/KASE, April 26, 2024/ – Development Bank of Kazakhstan JSC (Astana),
whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated April 26, 2024:
quote
Development Bank of Kazakhstan JSC (a subsidiary of "Baiterek" NMH JSC)
together with the Singaporean ING bank, the Chinese Bank of China, the Kazakh
Halyk Bank, as well as the Sinosure company, which will provide insurance
coverage for ING bank borrowed funds and Bank of China signed an intercreditor
agreement to finance the investment project "Construction of a plant for the
production of soda ash" in the Zhambyl region.
The signing of the Agreement took place within the framework of the 13th
meeting of the Kazakh-Turkish Intergovernmental Commission.
"This transaction was the first in the history of DBK, completed using a
syndicated financing instrument with the participation of foreign banks under
English law. Syndicated loans help increase the volume of financing for Kazakh
businesses from both foreign and domestic banks. Reduces the share of DBK's
participation in the project, which allows redirecting resources to other
domestic projects. At the same time, the presence of DBK as a member of the
syndicate gives confidence to foreign creditors, due to the trusting attitude
towards our bank in foreign markets", comments Marat Yelibayev, Chairman of the
Board of DBK.
unquote
The complete press release is available on –
https://kase.kz/files/emitters/BRKZ/brkz_relizs_260424_1_rus.pdf
[2024-04-26]