Kazakhstan Development Bank starts financing Phase 1 of the construction of the Saryarka main gas pipeline jointly with the Eurasian Development Bank

05.07.19 11:20
/KASE, July 5, 2019/ – The Development Bank of Kazakhstan (Nur-Sultan), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided the following press release to KASE: quote The Development Bank of Kazakhstan (a subsidiary of the Baiterek National Management Holding, hereinafter, the Bank, DBK) and the Eurasian Development Bank (the EDB) opened financing to construct Phase 1 of the Saryarka gas pipeline (hereinafter, the Project). The respective agreement was signed in the city of Nur-Sultan on 3 July. According to the financing scheme approved by the banks, the EDB, as the syndicate leader, purchased AstanaGas KMG’s (a subsidiary of the Samruk-Kazyna Sovereign Wealth Fund) ten-year bonds for a total of KZT 102 billion. The transaction was financed from the EDB’s own funds in the amount of KZT 51 billion, and a loan for the same amount from the DBK. Hence, the total project financing extended by the DBK and EDB amounted to KZT 102 billion, and the total project cost is KZT 267.3 billion. unquote Full version of the press release (in Russian) http://kase.kz/files/emitters/BRKZ/brkz_reliz_050719_2.pdf [2019-07-05]