KazTransGas paid back its 400 mln c.u. loan ahead of schedule
ASTANA. KAZINFORM JSC KazTransGas has announced early repayment of its 400 mln c.u. syndicated loan taken from Citibank, ING Banmk and Natixis.
As the company’s press service informs, earlier JSC KazTransGas bought back euro bonds to the amount of 270 mln c.u. in order to pay back it foreign currency loans ahead of schedule. Noteworthy to say, that such kind of deal on repurchase of euro bonds by cash is a unique experience for Kazakhstan market.
Thus, JSC KazTransGas has carried out several operations in 2015 aimed at lowering debt load. Due to this, the company’s debt has reduced three times, from 1 bln c.u. to 300 mln c.u. Amid tough economic situayion, the reduction of exchange obligations and foreign exchange risks serves as the main indicator of effective use of financial resources and competent financial management.
JSC KazTransGas is the national operator of Kazakhstan in oil and gas supply sector. The company unites gas extracting, transporting, selling and processing enterprises and organizations.