• Most Popular
  • Most Shared

UPDATE 1-RLPC-KazMunaiGas launches $2.5 bln loan - source

Mon Jun 9, 2008 10:49am EDT

(Adds details of bank meetings and participcation levels)

LONDON, June 9 (Reuters) - Kazakhstan oil and gas company KazMunaiGas [KMG.UL] has launched syndication of a $2.5 billion, three-year unsecured loan, a banking source said.

The deal pays a margin of 155 basis points (bps) over LIBOR, the source added.

Bank presentations on the loan will be held in London on June 18 and in Hong Kong on June 20.

Lenders are invited to commit $200 million for which they will receive an upfront fee of 100 bps, $100 million for 85 bps, $50 million for 70 bps, or $25 million for 60 bps.

Mandated lead arrangers are ABN AMRO, Bank of Tokyo-Mitsubishi-UFJ, Barclays, Credit Suisse, Deutsche Bank, SMBC, Societe Generale and WestLB.

Proceeds will refinance the company's $3.1 billion, one-year unsecured bridge loan that signed in January.

That unsecured loan paid a margin of 90 bps over LIBOR and was used to fund the borrower's purchase of Romania's second-largest oil company Rompetrol. (Reporting by Christopher Mangham; Editing by David Holmes)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets