KazAgroFinance signs loan agreement with CB Citibank (Russia)

/KASE, August 24, 2016/ – KazAgroFinance (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote KazAgroFinance, subsidiary of the National Holding KazAgro, signed a bilateral loan agreement with CB Citibank (Russia, Moscow) on attracting a loan to the amount of RUR1.8 bn. The finds raised are supposed to be spent on purchase of Russian agricultural machinery and subsequent leasing thereof to Kazakh agrarians. Raising funds denominated in Russian rubles in the current economic circumstances, on the background of uneasy access to funds denominated in the national currency, the tenge, is the alternative funding source allowing the minimization of currency risks in case of an unstable situation on the currency market, since the correlation of the Russian ruble's rate is the highest to the Kazakh tenge. unquote [2016-08-24]