Development Bank of Kazakhstan announces conclusion of trilateral agreement to provide financing to RG Brands Kazakhstan

03.01.24 11:27
/KASE, January 3, 2024/ – Development Bank of Kazakhstan JSC (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated December 25, 2023: quote Development Bank of Kazakhstan JSC (a subsidiary of "Baiterek" NMH JSC) together with Nurbank JSC and Bank CenterCredit JSC have signed a tripartite agreement of intent to provide financing within the framework of a syndicated loan for "RG Brands Kazakhstan" LLP. The financing will be directed towards acquiring high-tech production lines, expanding the production workshop to increase the company's production and sales, as well as expanding product exports to a new promising market – the Republic of Uzbekistan. The Chairman of the Management Board of DBK Marat Yelibayev, the Chairman of the Management Board of Nurbank JSC Gulnara Musataeva, and the Managing Director of Bank CenterCredit JSC Marat Karibzhanov signed the agreement. The total financing amount is 30.4 billion tenge, of which 16.4 billion tenge is for expanding production capacities, and 14 billion tenge is for pre-export financing. As a result of expanding production capacities, as they are put into operation, the volume of juice-containing and tea beverages, as well as carbonated and non- carbonated drinks, will nearly double. unquote The complete press release is available on – [2024-01-03]