Kazakh KazAgro pays off $100 mln loan to HSBC Bank

Business Materials 30 March 2015 16:47 (UTC +04:00)

Baku, Azerbaijan, March 30

By Elena Kosolapova - Trend:
Kazakh National Holding KazAgro paid off $100 million loan to HSBC Bank PLC, the holding reported on March 30.

The repayment of the loan completes a series of payments of the principal debt to foreign creditors in the current year. In January Holding KazAgro paid back a $100 million loan to The Royal Bank.

These funds were attracted in order to finance working capital of the holding, for the implementation of public policies aimed at stimulation and support Kazakhstan's agro-industrial complex, as well as financial recovery of agribusiness entities. The funds were used for financial recovery of agribusiness entities, leasing of agricultural machinery and purchase of cattle.

"The holding's timely actions to fulfill its liabilities to international investors once again confirm that that KazAgro has a high capacity to pay its debt and is extremely reliable and attractive partner," KazAgro said.

Edited by S.I.
Follow the author on Twitter: @E_Kosolapova