Belagroprombank acts as lead arranger of a syndicated loan facility for Bank Asaka (Uzbekistan)

On March 2, 2020 JSC Belagroprombank for the first time acted as a lender in the CIS syndicated lending market. In the debut transaction arranged for the borrower - State Joint-Stock Commercial Bank “Asaka” (Republic of Uzbekistan) Belagroprombank engages as a lead arranger.

The transaction, realized by Asaka Bank with the support of mandated lead arrangers, had a success in the market and, as a result of syndication, gathered unique number of lenders - 19 banks, including an international organization and financial institutions from the Russian Federation, the Republic of Belarus and the Republic of Kazakhstan. Due to a wide participation of leading banks of three countries, the total transaction volume amounted to 100 million euro, provided to the borrower in two tranches - for a tenor of 365 and 547 days.

“Participation in a syndicated loan arranged for one of the largest financial institutions of the Republic of Uzbekistan is a debut for the Bank. We are discovering new areas of activity in the field of international cooperation with much interest. The implementation of such a transaction will allow to gain a new experience in foreign markets and continue a successful history of international cooperation”, as noted by press service of Belagroprombank.

For reference: JSCB “Asaka” is one of the leading banks in Uzbekistan in terms of capital and assets (included in the Top-3 of local banks). Numerous nominations as "Best Bank of the Year in Uzbekistan" from well-known foreign publishers "Euromoney", "Global Finance" and "The Banker". International ratings assigned at BB- (Fitch), B2 (Moody's).