Kazakhstan Gas Company Has Paid Back $400 Million of Loans Early

Kazakh national operator KazTransGaz has announced that it has repaid a syndicated loan in the amount of $400 million early. The loan was received from international investment banks Citibank, ING Bank and Natixis, the press service of company reports.

“Previously, as part of the [company's] work aimed at the early repayment of foreign currency loans, KazTransGas has madea  reverse acquisition of US dollar Eurobonds for the total amount of 270 million. It is necessary to note that the transaction to repurchase Eurobonds for cash is unique for the Kazakhstan market, and a prior history of similar transactions has not been carried out by domestic companies," noted the company. 

The company said that in order to reduce the debt burden KazTransGas carried in 2015, it carried out a number of successful transactions, resulting in a debt by its group of companies being reduced three times, by $300 million (USD).

JSC KazTransGas is the national operator of Kazakhstan in the sphere of gas and gas supply. The group of companies of JSC KazTransGas includes mining, transporting and selling gas and refined products businesses and organizations.