Mangistau region plans to issue two-year domestic loan in first quarter of 2001

/IRBIS, Dec 20, 00/ - Reuters informs that Mangistau region of Kazakhstan plans to issue two-year domestic loan in first quarter of next year. The region plans to issue municipal loan for a total of KZT500.0 mln. The bonds will be tenge denominated. The funds raised would go to construction and repairs of roads. In 1999, Mangistau region issued $3.0 mln annual municipal bonds at 14.71% APR. Fitch, international rating agency rated Mangistau long-term liabilities in domestic and foreign currency as "BB". This is a first time Fitch rated the regional executive bodies. In this year, region plans to produce 9 mln tons of oil out of 30 mln produced in Kazakhstan. There are several companies located in the region: Mangistaumunaigas, Uzenmunaigas, Karazhanbasmunai. The revenues of Mangistau region in this year would equal to KZT13.5 bln.