/KASE, February 14, 2017/ – National Managing Holding KazAgro (Astana),
whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated February 14, 2017:
quote
No only KazAgroFinance from KazAgro national holding has recently decreased
the agricultural machinery and equipment leasing rates but it also reduced the
interest rates in the financial leasing agreements concluded in 2016.
The decision was taken by the Company's Board of Directors. The new decision
to reduce the rates will affect 1,523 agreements signed by the Company and
agribusinesses worth KZT46,144 m.
We already reported that in view of the upcoming 2017 spring sowing and
harvesting works KazAgroFinance announced the reduction of interest rates on
the agricultural machinery and equipment leasing from 19% to 17.3% per annum.
This has become possible as the actual weighted average of investment source
funding cost for 2016 decreased as the funds were not raised in full as planned
from the National Fund in 2016, own funds amount and proportion increased,
and actual borrowing rate for the Company decreased.
According to KazAgroFinance, the addendums to the earlier financial leasing
agreements will be signed upon a positive decision of the credit committee.
Please contact the Central Office of the Company located in Astana or branches
and offices across Kazakhstan on this issue.
Information about the programs and funding conditions can be found in
"Products" tab on KazAgroFinance website
http://www.kaf.kz/products_company/products/financing-terms/
unquote
[2017-02-14]