Subsidiary Organization VTB Bank (Kazakhstan) announces opening of the second phase of credit facility line to Altynalmas Group by VTB Group

22.09.20 18:19
/KASE, September 22, 2020/ – Subsidiary Organization VTB Bank (Kazakhstan) (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided the following press release dated September 22, 2020 to KASE: quote VTB Group has opened credit facility line to JSC AK Altynalmas Group of companies for the amount of up to Euro 640,000,000 thus, totaling the overall credit facility line to Euro 1,100,000,000. VTB Group has extended the credit facility line to JSC AK Altynalmas Group of companies of for the amount of up to Euro 640,000,000. Thus, overall credit facility line totalled Euro 1,100,000,000. The funding was provided to Altynalmas Group to support advancement of its business through new projects and expansion of its asset base. The proceeds will be directed to consolidation of MMC KAZAKHALTYN JSC’s assets with those of JSC AK Altynalmas, Mizek Project with a throughput capacity of 5 million tons per annum, raising the annual gold production level above Oz500,000 from 2021, optimization of the company’s debt portfolio, as well as to a series of capital expenditure programs, and expansion of production capacity and resource base. unquote Full version of the press release is available at – - – in Kazakh; - – in Russian. [2020-09-23]