Development Bank of Kazakhstan JSC (a subsidiary of «Baiterek» NMH JSC) together with Nurbank JSC and Bank CenterCredit JSC have signed a tripartite agreement of intent to provide financing within the framework of a syndicated loan for «RG Brands Kazakhstan» LLP. The financing will be directed towards acquiring high-tech production lines, expanding the production workshop to increase the company's production and sales, as well as expanding product exports to a new promising market – the Republic of Uzbekistan.
The Chairman of the Management Board of DBK Marat Yelibayev, the Chairman of the Management Board of Nurbank JSC Gulnara Musataeva, and the Managing Director of Bank CenterCredit JSC Marat Karibzhanov signed the agreement.
The total financing amount is 30.4 billion tenge, of which 16.4 billion tenge is for expanding production capacities, and 14 billion tenge is for pre-export financing.
As a result of expanding production capacities, as they are put into operation, the volume of juice-containing and tea beverages, as well as carbonated and non-carbonated drinks, will nearly double.
«In the current year, President of Kazakhstan Kassym-Jomart Tokayev, emphasized the need to actively use syndicated loan mechanisms. This deal is the first in the history of DBK, made using the syndicated financing instrument with second-tier banks of Kazakhstan. I am confident that this is only the beginning of our future successful partnership. This type of financing will allow banks to reduce risks and improve project management. Borrowers, in turn, will have broader access to long-term financing on favorable terms,» noted the Chairman of the Management Board of DBK, Marat Yelibayev.
«Syndicates are effective due to their cooperation, because one bank is not always ready to allocate a large sum for financing large-scale projects. We are very proud to be given the opportunity to participate in such a landmark deal for the banking market of the Republic of Kazakhstan, which will allow 'RG Brands Kazakhstan' to access «long-term funds» on preferential terms and significantly expand existing production capacities. Today, Nurbank actively finances corporate clients and SMEs, which are the foundation of the successful development of the country's economy,» said Gulnara Musataeva, Chairman of the Management Board of Nurbank JSC.
«BCC holds leading positions in business lending and actively supports the real sector of the economy. We are partners with many large companies and together create opportunities for the constant growth of the economic potential of our country. Participation in syndicated financing expands the business lending opportunities, and in subsequent years, Kazakh companies can actively consider this instrument,» commented Nurlan Shegebaev, Vice President of Bank CenterCredit JSC.
«Our main task is to provide consumers with products of consistently high quality. To achieve this, we develop innovations and strictly follow international standards. This new financial instrument will be implemented thanks to the support of the state and private banking sectors, with the participation of the National Managing Holding «Baiterek», and is now available to the business community. Of course, in the context of the slowdown in economic growth, this instrument opens up additional opportunities for business development and the national economy as a whole. The global quality of the products we produce allows us to present them to both local consumers and successfully develop export programs to satisfy a wide range of taste preferences,» noted Kairat Mazhibayev, Chairman of the Management Board of Directors of RG Brands JSC.
