Joint Stock Company "Development Bank of Kazakhstan" (hereinafter - DBK) together with JSC "Nurbank" and JSC "Bank CenterCredit" signed a tripartite letter of intent to provide financing within a syndicated loan for LLP "RG Brands Kazakhstan". The financing will be directed towards expanding capacities to increase new production lines and export products to the Republic of Uzbekistan.
The agreement was signed by Chairman of the Board of DBK Marat Yeliyev, Chairman of the Board of JSC "Nurbank" Gulnara Musataeva, and Managing Director of JSC "Bank CenterCredit" Marat Karibzhanov.
The total amount of financing is 30.4 billion tenge, of which 16.4 billion tenge will be used to expand production capacities and 14 billion tenge for pre-export financing.
"This year, the President of Kazakhstan in his address noted the necessity of more actively using syndicated lending mechanisms. This transaction is the first in the history of DBK made using the syndicated financing instrument with Kazakhstani commercial banks. I am sure this is just the beginning of our future successful partnership. This type of financing will allow banks to reduce risks and improve project management. Borrowers will get wider access to long-term financing on favorable terms," Chairman of the Board of DBK Marat Yeliyev noted.
As a result of expanding production capacities, the volume of juice-containing, tea, as well as carbonated and non-carbonated drinks will almost double.
"Syndicates are effective in their cooperation, as one bank is not always ready to allocate a large amount for financing large-scale projects. We are very proud to be part of such a significant transaction for the banking market of the Republic of Kazakhstan, which will allow "RG Brands Kazakhstan" to access "long money" on favorable terms and substantially expand existing production capacities.
Today Nurbank actively lends to corporate clients and SMEs, which are the foundation of the successful development of the country's economy," said Chairman of the Board of JSC "Nurbank" Gulnara Musataeva.
* JSC "Nurbank" has license No. 1.2.15/193 of February 3, 2020, issued by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.