KazTransOil (Kazakhstan) to issue bonds for up to $20 mln ondomestic market

/IRBIS, Sep.21, 00/ - REUTERS informs that national oil transportation company KazTransOil made a decision to issue bonds for up to $20 mln on domestic market. It is the first bond issue for the company and it will be placed among the Kazakhstani investors, is said. It is said that now the talks are held with potential investors on the circulation term of bonds. The bonds will have coupons to be paid semiannually, is said. The company's public relations department says that the funds raised through the bond issue will be used to finance the modernization of current pipelines and creation of new ones, which is outlined in its indicative plan for the years 2000-2005 approved by the government. Financial consultants of the project are Halyk Bank and Kazkommerts securities OJSC, is said. Presently, the issue is under preparation and registration with the National securities commission.