KazMunaiGas selects organizers of $2.5 bn. syndicated credit

/INTERFAX-AFI, Moscow, May 27, 08/ - The National oil and gas Kazakhstan Company KazMunaiGas plans to start syndication of a three year $2.5 bn. credit, a bank circles' source informed Interfax-AFI. "ABN Amro, Barclays, SMBC, Societe Generale, Bank of Tokyo-Mitsubishi, Deutsche Bank, Credit Suisse and WestLB will act as organizers of the credit", - he said. Loaned funds will be used for refinancing of the $3.1 bn. syndicated credit borrowed in 2008 for purchasing of Romanian Rompetrol. As informed, in January 2008 KazMunaiGas closed the $3.1 bn. syndicated credit borrowing deal. The rate on the credit made LIBOR+0.9 % APR; and it was borrowed for 1 year. At the end of August, KazMunaiGas announced on signing of the agreement with Rompetrol Holding SA on purchase of 75 % shares of The Rompetrol Group NV (TRG), based on its $3.616 bn. value Rompetrol Holding will retain 25 % of TRG shares. [2008-05-28]