BAKU, Azerbaijan, November 25
By Nargiz Sadikhova - Trend:
Total debt of Kazakhstan’s KazMunayGas (KMG) National Company was at 4.02 trillion tenge as of September 30, 2021 ($9.4 billion), having decreased in tenge terms by 1.3 percent (in the US dollar terms: a decrease of 2.4 percent) compared to December 31, 2020, Trend reports citing the KMG.
Total debt including guaranteed obligations amounted to 4.2 trillion tenge ($9.8 billion) as of September 30, 2021, decreased by 2.3 percent in tenge terms (a decrease of 3.4 percent in the US dollar terms) vs. December 31, 2020.
During the reporting period, Atyrau Refinery partially repaid a loan from the Export-Import Bank of China for $156 million and fully repaid the loan from the Development Bank of Kazakhstan JSC for $142 million. Atyrau Refinery received a long-term loan from Halyk Bank JSC for a total amount of 54 billion tenge with a maturity of 4 years to refinance existing loans.
KMG International N.V (KMGI) received a $50 million short-term loan from Cargill, and a $46 million short-term loan from Banque de Commerce et de Plasements to finance working capital. KMGI partially repaid a $71 million short-term loan from ING Bank NV, including interest.
KMG's net debt amounted to 2.2 trillion tenge ($5.2 billion) as of 30 September 2021, down by 13.6 percent in tenge terms compared to December 31, 2020 (a decrease by 14.6 percent in the US dollar terms).
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