Kazakhstan Kagazy PLC / Re Agreement
23.05.2012 07:28
Dissemination of a UK Regulatory Announcement, transmitted by
EquityStory.RS, LLC - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Almaty, Kazakhstan - 23 May 2012 - Kazakhstan Kagazy JSC (the 'Group') announces
that it has agreed new and improved terms for its outstanding liabilities with the
European Bank for Restructuring and Development ('EBRD').
Both parties have agreed new terms for a loan with an outstanding principal of
US$30 million. Specifically, the maturity of the loan was extended for one more
year to 2016. At the same time the margin on the interest rate on the loan will be
reduced to 4.0% per annum if certain financial covenants are met.
Taisiya Kogutyuk, CEO of Kazakhstan Kagazy, commented:
'We are very pleased with the constructive outcome of our negotiations with EBRD
and that we have reached a mutual understanding on all important matters. We are
thankful for EBRD's vote of confidence in the Group's operations.'
New terms and conditions of the loan will apply upon the signing of legal
documentation.
For information:
Kazakhstan Kagazy Group produces paper, corrugated cardboard and cardboard
containers. It is a modern production company with vertically integrated
production cycle that starts from the collection and processing of waste paper and
production and distribution of paper, cardboard and containers. It maintains
leading positions in paper and cardboard market in Kazakhstan.
The European Bank of Reconstruction and Development is an international
financial organization which finances projects across 29 countries ranging from
Central Europe to Central Asia
For additional data, please visit www.kazakhstankagazy.com or contact:
Sadyr Shaguzhayev
+7(727) 341-02-00, 320-12-00
IR department
Yekaterina Karmysheva
+7(727) 341-02-00, 320-12-00
Press office
23.05.2012 EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Kazakhstan Kagazy PLC
33-37 Athol Street
IM1 1LB Douglas
Isle of Man
Phone: +7-727-244-87-87
Fax: +7-727-244-87-82
E-mail: ir@kagazy.kz
Internet: www.kazakhstankagazy.com
ISIN: US48667M2035
Listed: London
Category Code: AGR
LSE Ticker: KAG
Sequence Number: 1095
Time of Receipt: May 23, 2012 07:28:09
End of Announcement EquityStory.RS, LLC News-Service
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(END) Dow Jones Newswires
May 23, 2012 01:29 ET (05:29 GMT)
© 2012 Dow Jones News
