KazMunaiGas syndicating $2.5 bn. credit (LIBOR+1.55 %)

/INTERFAX-AFI, Moscow, June 9, 08/ - On Monday Kazakhstan national oil and gas company KazMunaiGas started syndication of $2.5 bn. credit (LIBOR+1.55 %), a source in banking circles informed Interfax-AFI agency. The credit is borrowed for 3 years, and to be amortized in 2 years. The book-runners of the credit are Credit Suisse and ABN Amro, the organizers are - Barclays, Bank of Tokyo-Mitsubishi UFJ, Societe Generale, SMBC, WestLB and Deutsche Bank. As informed earlier, the loan will be allocated to refinance the $3.1 bn. syndicated credit borrowed in the beginning of 2008 to purchase the Romanian Rompetrol. In January 2008 KazMunaiGas made the deal to borrow $3.1 bn., syndicated credit. The rate on credit was LIBOR+0.9 % APR, it was borrowed for one year. In the end of August 2007 KazMunaiGas announced on signing of the agreement with Rompetro Holding SA on purchasing of 75 % share of the Rompetrol Group NV (TRG) based on its cost at $3.616 bn. The Rompetrol is holding 25 % share of TRG. [2008-06-10]