Major copper producer of Kazakhstan expands co-op with foreign partners

Business Materials 13 June 2019 12:28 (UTC +04:00)

Baku, Azerbaijan, June 13

By Nargiz Sadikhova - Trend:

Kazakhmys Group,the biggest copper producer in Kazakhstan, signed an Agreement with an international alliance worth $225 million, Trend reports referring to the press office of the company.

Kazakhmys Group as Producer and Guarantor, and Advaita Trade DMCC as the Borrower and Off-taker, signed an Agreement with an international alliance comprised of Credit Suisse AG and Societe Generale, raising prepayment-type financing in the amount of $225 million at the rate of one-month LIBOR + 255 bps.

Parties of the Agreement can further extend the amount of financing up to USD 500M.

For Kazakhmys Group, it is the landmark financing deal within the Group’s strategy of entering international markets and extending the boundaries of its business through diversification of financing sources and obtaining stable access to international debt capital markets. Kazakhmys was advised by Whitecliff Investment Management, Advaita Trade DMCC by Reed Smith, and Credit Suisse AG by Latham & Watkins.

(1USD = 384.65 KTZ on June 13)


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