Kazakhstani KazTransOil may issue $100 mln eurobonds in 2001
13.11.00 00:00
/IRBIS, Nov.13, 00/ - REUTERS informs, with the leading manager of the
assets management department of the KazTransOil, Almaz Irishev, that the
company plans to issue eurobonds for at least $100 mln next year.
He said that at this time the issue parameters were discussed, though it
would be at least $100 mln.
As the company representative informed the company is placing three-year
bonds on domestic market, with registered volume of $30 mln, and the
company plans to float $25 mln of this amount, with the remaining amount $5
mln being offered next year.
With the registered issue volume of $30 mln, currently $23 was floated so far
at 10.3%. The offering would last at least till the end of this week, with
overall floatation amount not exceeding $25 mln. he added.
It is said that the company made such a decision due to the fact that by the
securities law, the decision on additional issue is made only after previous
issue has been repaid, and besides the company has sufficient funds, Irishev
said.
There is a development program for the company and all the funds mobilized
by issuing domestic and international bonds will be used in this program,
was said.
The company KazTransOil was established in 1997 and has more than
6,400 kilometers of oil pipelines in use and 3,140 kilometers of waterways
that pass through eight regions of the country. The company is said to be
engaged in the construction of infrastructure objects, such as several oil
platform.
The company has the authorization to hold the interests of Kazakhstan in all
pipeline projects, including international ones and it transports 80% of the
oil produced in the country, is said.