Azernews.Az

Friday March 29 2024

KazTransGasbuys back bonds worth $270M

25 November 2015 12:02 (UTC+04:00)
KazTransGasbuys back bonds worth $270M

Kazakhstan's KazTransGas has partially bought back bonds worth $270 million by means of submitting a public offer on the purchase to holders of Eurobonds, which were issued in 2007 with a circulation period until 2017.

Citigroup Global Markets, ING Bank, London Branch and Natixis Securities Americas acted as dealer managers for the repayment of bonds, the company reported.

Successful completion of the deal enabled “KazTransGas” to optimize its debt liabilities, reduce foreign exchange risks and decrease costs of servicing the debt. The positive economic impact of this will amount to nearly 3 billion tenge (307.13 tenge = $1).

”KazTransGas” plans to buy back the remainder of the bonds as well.

KazTransGas JSC was established in accordance with a governmental decree of the Kazakh Republic No173 dated February 5, 2000, in order to systematise the work of the gas industry.

In accordance with the Kazakh government decree N914, as of July 5, 2012, KazTransGas JSC is defined as the national operator in the field of gas and gas supply. Companies and organisations dealing with gas production, transportation and sale are included in the KazTransGas company group.

---

Follow us on Twitter @AzerNewsAz

Loading...
Latest See more