KazTransGas may issue about $100m eurobonds in 2002

/IRBIS, Feb 15, 02/ - REUTERS informs, with the reference to one of the heads of KazTransGas, that the company may issue eurobonds in 2002 for about $100m. The first deputy general director of the company, Danyar Berlibaev says that the issue may take place close to the middle of the year and funds to be used in investment programs. The company's investments in 2002 may reach $200m, and namely the development of Amangeldy gas field in the south of Kazakhstan and probably the building of gas pipeline connecting Uzbekistan and southern regions of Kazakhstan going roundabout Kyrgyzstan. In case of the success, KazTransGas will be the third state company in Kazakhstan to issue eurobonds this year after the floatation of 5-year eurobonds by Kazakhoil on Wednesday for EUR125m and Kazakhstan Temir Joly (railroads) with planned 100m to 200m dollars or euros. It is said that another company of the state holding Transportation of Oil and Gas, where KazTransGas is a part of it, KazTransOil have issued its $150m eurobonds in July of last year. He said that going on external markets would allow Kazakhstani issuers to raise big money at favorable terms and these securities would be good instruments to invest for pension funds of Kazakhstan. There is more than $1.2bn accumulated in pension funds and the funds maintain high prices and liquidity of the eurobonds market of Kazakhstani issuers in the absence of sufficient other instruments to invest in, is said.