KTG gets a syndicated loan of $ 400 million.

"KazTransGas" (part of the "KazMunaiGas" group of companies) has entered into a loan agreement with international banks on a syndicated loan totaling $ 400 million, the press service of the company informs.

The banks including Citibank, ING Bank and Natixis appeared as the arrangers. This loan is for a period of three years with an interest rate of Libor +1,5% .

"KTG" plans to use loan funds on refinancing its obligations.

As the Chairman of the JSC "KazTransGas" Board, Kairat Sharipbayev commented on the deal, despite the unstable situation in the global markets, the company had managed to  borrow funds at a very low rate. According to him, such attractive terms of the financial agreement with the World Bank speak of the high appraisal of creditworthiness and investment attractiveness of Kazakhstan, as well as the favorable prognosis of its further development.