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International Loans

International Loans

Due to the unstable development of the Kazakhstani market, obtaining necessary funding is one of the principle factors for further business development of local companies.

One of the most important sources for their rapid growth is in attracting loans from foreign and international creditors.

One of the distinctive features of loans given by foreign and international financial institutions is that their interest is significantly lower than the interest of local Kazakhstani banks and financial institutions. This is the reason why local borrowers choose foreign credit. In Kazakhstan, mining companies, companies from the agriculture industry, telecommunications and other economic fields can all be considered as potential borrowers.

GRATA provides legal services on a large number of the credit and loan agreements between local borrowers and foreign creditors. It is necessary to notice that for local companies, the participation of an Independent Legal Counsel, providing a Legal Opinion on the legal status of the borrower, its valid activity is usually a requirement for potential investors. As a rule, such a Legal Opinion is a kind of guarantee of the lawful activity and condition of the borrower.
 
In the case of project financing, the volume of documents is significantly larger than for usual financing and includes documents concerning the whole process of the project development, including drafting and concluding different agreements related to project execution, collateral for the benefit of the creditor, financing agreements and conducting due diligence.

With excellent experience in this area, GRATA offers the service of a Local Counsel for potential borrowers and creditors.
The services of a Local Counsel in financing include the following:
  • drafting and expertise of the credit agreement on compliance with the requirements of the Kazakhstani legislation;
  • due diligence services;
  • the collection of documents (Conditions Precedent) concerning the legal status of the Object;
  • advising with respect to the legal execution of documents on compliance with currency regulation requirements, prescribed for transactions with non-residents of the Republic of Kazakhstan;
  • сonsulting on corporate and tax issues as provided by Kazakhstani legislation.
On the whole creditors prefer to minimise the risks of credit default by accepting security in the form of collateral.

In the case of collateral in the form of pledge of a mortgage, GRATA provides the following types of legal services:
  • drafting mortgage agreements, pledge agreements, assignment agreements;
  • expertise of the documents confirming ownership rights on the mortgage;
  • registration of the pledge rights with the authority;
  • providing legal opinion on issues of the credit agreement validity, legal status of the borrower and compliance procedures of the transaction conclusion;
  • other types of services regarding to pledge rights execution, checking of existence or absence of encumbrance on the pledge or mortgage, as well as possibility of enforcement of the pledge or mortgage.
In case of collateral in a form of guarantee issued by a third person, GRATA provides the following types of legal services:
  • drafting the guarantee;
  • due diligence services in regard to the Guarantor;
  • consulting in respect of compliance requirements prescribed by Kazakhstani law for  the guarantee;
  • issuing a legal opinion on the status of the Guarantor.
Our significant experience in the field of foreign and international loans can help you to understand and minimise your legal risks related to the financing of local borrowers.

Moreover, GRATA can help potential borrowers in the preparation of regular reports for foreign creditors.

If you have any questions or need some more information, please feel free to contact us.

Best regards,

"Finance and Securities" Department

Tel.: +7 (727) 2 445-777
Fax: +7 (727) 2 445-776
finance_securities@gratanet.com

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