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Wednesday, 20 August, 2008, 06:40 GMT | more prices >>

Investors line up for KazMunaiGas



By Upstream staff 

Kazakhstan oil and gas company KazMunaiGas's unsecured $2.5 billion, three-year syndicated loan is oversubscribed ahead of closing, a banking source said today.

The deal pays a margin of 155 basis points over LIBOR.

Lenders are invited to commit $200 million for which they will receive an upfront fee of 100 bps, $100 million for 85 bps, $50 million for 70 bps, or $25 million for 60 bps.

Proceeds will refinance the company's $3.1 billion, one-year unsecured bridge loan signed in January.

That unsecured loan paid a margin of 90 bps over LIBOR and was used to fund the borrower's purchase of Romania's second-largest oil company Rompetrol.


Thursday, 03 July, 2008, 14:29 GMT  | last updated: Thursday, 03 July, 2008, 14:29 GMT

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