Development Bank of Kazakhstan JSC (a subsidiary of Baitere NMH JSC) together with Nurbank JSC and Bank CenterCredit JSC signed a syndicated loan agreement. The funds will be provided to the large beverage manufacturer RG Brands Kazakhstan LLP to expand production capacity and increase product exports to the Uzbekistan market. Note that this is the first syndicated loan agreement of DBK in partnership with Kazakh second-tier banks. Bank CenterCredit JSC became the first bank in Kazakhstan to issue a tranche within the syndicate and assume the role of an agent bank representing the interests of all creditors of the syndicate and providing credit administration services under syndicated loans.
«Syndicated loans allow us to achieve two goals at once. On the one hand, we are expanding the base of long-term financing for our borrowers from the manufacturing industry on affordable terms, and on the other hand, we are involving more private financial institutions in lending to large projects in the real sector of the economy», comments Marat Yelibayev, Chairman of the Board of DBK.
«One of the bank’s priorities is to support the real sector of the economy. Therefore, we decided to take part in this initiative. For the first time in Kazakhstan, the BCC team developed a product that allows us to provide administration services within the framework of syndicated financing. We are improving, expanding our capabilities and are ready to provide agent bank services in such transactions», notes Nurlan Shegebaev, vice president of Bank CenterCredit JSC.
«Nurbank highly appreciates the positive effect and significance of the syndicated loan mechanism for representatives of business, industry, and, consequently, for the entire state economy. Such financial collaboration allows not only to increase the volume of lending to the real sector of the economy, but also to offer clients the most comfortable conditions. In addition, we highly appreciate the opportunity for joint cooperation with DBK and Center Credit Bank as part of the implementation of syndicated financing programs», said Gulnara Musatayeva, Chairman of the Board of Nurbank.
«The syndicated loan was successfully implemented thanks to the clear and coordinated work of all participants. The joint work of the teams of «RG Brands», «Bank CenterCredit», «Development Bank of Kazakhstan» JSC and «Nurbank» JSC opened access to a new financing instrument now available to the entire business community of Kazakhstan. The syndicate provides additional opportunities for the development of business and the national economy as a whole. The implementation of this project will allow «RG Brands» to continue its program of investing in expanding production capacity in Kazakhstan and increasing the export potential of the Company’s products», noted Timur Zhanguzhanov, financial director of RG Brands.
Let us recall that in December 2023, an agreement of intent on joint lending was signed between the Development Bank, “Nurbank” and “Bank CenterCredit”. The allocated funds will be used by the borrower to purchase new high-tech production lines, expand the production workshop and increase the export of products to the market of the Republic of Uzbekistan.
The total amount of financing is 26,5 billion tenge, of which 12,5 billion are intended for expanding production capacity and another 14 billion for pre-export financing. As a result of the expansion of production capacity, the volume of juice, tea, as well as carbonated and non-carbonated drinks will almost double as they are put into operation step by step. In turn, this will not only increase domestic production and export of drinks, but will also support the creation of new jobs at the enterprise for Kazakh specialists.
