40937-014: KAZ: GUARANTEE FOR DIVERSIFIED PAYMENT RIGHTS SECURITIZATION BY ALLIANCE BANK JSC

Project Data Sheet (PDS): Overview


Description

The proposed transaction is a credit guarantee on Alliance Bank's first deferred payment rights (DPR) securitization of up to USD100 million. DPRs are SWIFT MT 100 category series payment order messages. These payment orders are a product of the international financial operations of ALB. Payment orders are created as a result of ALB's role as a financial intermediary between foreign payors wishing to send funds to Kazakhstan and residents of Kazakhstan that are recipients of these funds. ALB will sell the future expected flows of such payment orders. ADB will take the role of a traditional mono-line insurer and provide credit enhancement to the issued notes. ADB's scope of guarantee will cover payment of principal and interest of the guaranteed notes. Read More

Country Kazakhstan
Borrower/Equity Investment Name ALLIANCE BANK
Project Number 40937-014
Project Type or Modality of Assistance PS
Financing Private sector (Nonsovereign)
Status Approved
Approval Number 7246
Approval Date 10 Oct 2006
Closing Date 13 Nov 2006
Geographical Location Almaty, Kazakhstan
Sector / Subsector Classification Finance
/ Banking Systems
Thematic Classification Economic growth
Private sector development
Safeguard Categories Environment: C
Resettlement: C
Indigenous People: C

 

 

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