TRANSKAPITALBANK arranged the debut syndicated loan transaction for the Uzbek financial institution

  • 01.08.2019

    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”.

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