KEGOC early repays European Bank for Reconstruction and Development (EBRD) loan

/KASE, January 10, 2017/ – KEGOC (Astana), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following statement: quote In order to improve the financial stability of KEGOC, deleverage, mitigate FX, interest rate and other risks, as well as reduce costs, on January 5, 2017 KEGOC early repaid the European Bank for Reconstruction and Development USD151.9 m loan No. 42039 raised on May 21, 2011 for an investment project "Reconstruction of 220 kV overhead transmission line TsGPP SS – Ossakarovka SS". The first USD70.2 m partial early repayment tranche was paid on December 7, 2016. The liabilities under the loan as of December 31, 2016 amounted to USD27.4 m. The second USD27.4 m full early repayment tranche was paid on January 5, 2017. During the term of the loan agreement KEGOC timely fulfilled all of its obligations. Ossakarovka Transmission Rehabilitation Project will provide reliable power supply to Astana and meet the growing electricity demand of the city and projects to be constructed in the industrial zone of Astana. As part of the project to improve the reliability of Astana power supply system a double circuit 220 kV line TsGPP SS – Osakarovka (118.7 km) and a 500 kV electrical substation TsGPP SS were reconstructed. Currently, the total loans KEGOC amount to USD337.78 m (KZT111.65 bn). All loans are long-term. unquote [2017-01-10]