The deal expands the bank’s participation in the international debt market
ForteBank entered the international syndicated loan market, and its debut was successful. The bank raised $200 million from 14 international banks in Europe, the Middle East and Latin America.
Initially, the amount was planned to be smaller, but high investor demand forced an expansion of the loan volume. According to the bank, this demonstrates a high level of international lenders’ trust in the financial stability and development strategy of ForteBank, as well as in the macroeconomic policy of Kazakhstan.
The organizers of the deal were Commerzbank Aktiengesellschaft (Germany) and MashreqBank psc (UAE). Commerzbank Aktiengesellschaft also acted as an agent for documentation and servicing of the loan.
“Raising the first syndicated loan was an important milestone in the development of ForteBank and demonstrates a high level of trust on the part of the international financial community. Thanks to this deal, we will be able to offer businesses in Kazakhstan some of the most favorable financing conditions on the market – this will be a significant advantage of ForteBank for our clients and a powerful incentive for the development of the real sector of the economy,” noted Talgat Kuanyshev, Chairman of the Board of ForteBank.
