Samruk-Energy announces refinancing of Ekibastuz GRES-2 liabilities in foreign currencies

25.08.20 11:40
/KASE, August 25, 2020/ – Samruk-Energy (Nur-Sultan), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the press release dated August 25, 2020, which states as follows: quote Ekibastuz GRES-2 JSC, whose equal shareholders are Samruk-Kazyna and Samruk- Energy, has refinanced all foreign currency liabilities totaling about KZT100 billion. Thus, the station fully leveled currency risks and eliminated potential exchange-rate losses. This event was held as part of the maintenance of the government's policy to reduce the level of dollarization of the country's economy, foreign exchange obligations and external debt of Kazakhstan. The source of the refinancing was the largest bank in Kazakhstan, the People's Bank of Kazakhstan. Implementation of the transaction allowed Ekibastuz GRES-2 to completely eliminate currency risks, fix the remuneration rate, fully release pledged movable and immovable assets, which helped optimize annual related costs in the amount of more than one billion tenge. In addition, the transaction helped improve financing conditions and simplified the financing structure through a fixed long-term loan in the national currency. unquote Full version of the press release is available at: – in Kazakh; – in Russian. [2020-08-25]