Kazakhstan’s ForteBank Secures $200 Million from International Lenders

ForteBank has successfully entered the international syndicated loan market, raising $200 million from 14 international banks across Europe, the Middle East, and Latin America, Orda.kz reports.

Strong investor demand led to an increase in the initial loan amount, signaling significant confidence in both Kazakhstan’s macroeconomic stability and ForteBank’s financial strength.

The deal was arranged by Germany’s Commerzbank Aktiengesellschaft and MashreqBank psc from the UAE, with Commerzbank also serving as documentation and facility agent.

Securing our first syndicated loan marks a major milestone in ForteBank’s development and reflects the high level of trust from the global financial community. This funding will allow us to offer Kazakhstani businesses some of the most competitive financing terms in the market—an important advantage for our clients and a powerful driver for real-sector growth,said Talgat Kuanyshev, ForteBank CEO. 

The funds will be used for general corporate purposes, including financing Kazakhstan’s real economy and diversifying the bank’s funding base.

This deal also reinforces ForteBank’s growing presence in international capital markets.

Earlier this year, the bank successfully placed $400 million in five-year Eurobonds with a 7.75% annual coupon, listed on the Vienna Stock Exchange and the Astana International Exchange (AIX). It marked the first Eurobond issuance by a private Kazakhstani bank in over a decade.

Original Author: Maria Kravtsova