TRANSKAPITALBANK (TKB) acted as a Mandated Lead Arranger (MLA) and the Bookrunner in the syndicated loan transaction amounting to EUR16mln + USD3,5mln for the state-owned Qishloq Qurilish Bank (QQB).
The deal is structured as a dual tranche loan for the QQB clients’ trade-related contracts and general purpose financing.
Promsvyazbank, Uralsib Bank, Altyn Bank (a subsidiary of China CITIC Bank Corporation Limited), Asian-Pacific Bank, J&T Bank, ALEF-Bank also joined this transaction as co-MLAs.
“This is the debut syndicated loan deal in the banking system of Uzbekistan, where the transaction documentation is drafted under Russian Law” – commented Elena Shirinskaya, Deputy Chairman of the Management Board – “We are happy that QQB mandated TKB as the MLA & Bookrunner for this remarkable transaction. Despite it was QQB’s first experience on the syndicated loan market – we managed to close the deal successfully in quite short time. Uzbekistan has become a driver of the economy growth in the Central Asia region due to its ongoing major economic reforms and a lot of foreign investors including the World Bank, EBRD, ADB, etc. show great interest to this region”.
The Ministry of Economic Development of the Russian Federation included TRANSKAPITALBANK (TKB) into the list of the authorized financial institutions participating in the SME soft bank lending program in accordance with the RF Government Regulation No.1764 dated December 30, 2018 “On approval of regulations for provision of grants to the Russian financial institutions for compensation of the lost income under loans, granted in 2019 – 2024 to SME borrowers with concessionary interest rates”.
The realization of this Program is scheduled within the governmental national project - “Small and medium sized entrepreneurship and support of the business initiative”.
The participation in the a.m. Program enables TKB to provide the SME clients with loans bearing an attractive interest rate and contribute to the development of the SME business in different Russian regions.
TKB is also an active participant of the Lending Program of the Ministry of Agriculture of the Russian Federation and is one of the banks, authorized by the Federal SME Development Corporation for supporting SME borrowers within the National Guarantee System.