Norton Rose Fulbright advises Halyk bank on the signing of its US$300 million syndicated term loan

Global law firm Norton Rose Fulbright has advised Halyk bank on the signing of its US$300 million syndicated term loan, comprised of one-year and three-year tenor tranches.  

The facility, signed on September 16, 2024 and available for general corporate purposes, marks Halyk Bank’s return to the international syndicated loan market for the first time since 2008. The transaction was supported by 12 banks across North America, Europe, Middle East and Asia, demonstrating the international syndicated loan market’s strong interest in supporting Halyk Bank’s funding objectives. This landmark transaction symbolizes the re-opening of international syndicated loan market for Kazakh commercial banks since 2009. 

Citi, Abu Dhabi Commercial Bank PJSC, and Commerzbank Aktiengesellschaft served as Bookrunners and Initial Mandated Lead Arrangers on the transaction. Citi also served as the sole Coordinator on the financing.

Established in 1923, Halyk Bank is a leading financial services group in Kazakhstan, with a diversified presence across retail, SME, and corporate banking, as well as insurance, leasing, brokerage, asset management and lifestyle services. Operating through an extensive branch network in Kazakhstan, the Bank also operates in Georgia and Uzbekistan.

This transaction is a significant step in diversifying Halyk bank’s funding sources at attractive terms and bolsters the strong credit metrics of the bank. 

The Paris-based Norton Rose Fulbright team advising Halyk bank on this transaction was led by debt capital markets partner Jeremy Grant, with assistance from associates Sonya Hrytsyuk and Elise Najjar.