/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:
https://kase.kz/files/emitters/SNRG/snrg_reliz_250820_kz.pdf – in Kazakh;
https://kase.kz/files/emitters/SNRG/snrg_reliz_250820.pdf – in Russian.
[2020-08-25]