Kazakhstan

Kazkommertsbank, the largest bank in Kazakhstan, intends to buy back up to $300m of its outstanding euro and dollar bonds via auction.

A multi-billion dollar project finance loan for Tengizchevroil (TCO), a Kazakh oil field joint venture, is finally being arranged, said four bankers this week.

Vitol-KazMunaiGas has received more than $3.5bn in commitments from lenders for its prepayment facility loan.

Four banks underwrote the $3bn prepayment facility for Swiss commodity trader Vitol to buy oil from Kazakhstan's KazMunaiGas (KMG).

Kazagro on Monday launched a consent solicitation for its euro denominated 2019s and dollar denominated 2023s, asking to change some of its leverage covenants.

Bankers are hoping for some busy Kazakhstan deal flow as the Tengizchevroil (TCO) oil consortium holds discussions for an unsecured corporate loan of several billion dollars.

Oil trader Vitol is syndicating a $3bn loan with a margin of 185bp and should complete the deal by the end of the month, according to a banker involved.

Kazmunaigas (KMG) is repurchasing $3.4bn of bonds across its outstanding 2043s, 2044s, 2023s, 2025s, 2020s and 2021s.

It is a truism that the finances of countries, as well as companies, feel the impact from declining commodity prices. This can be good for energy importing nations, and the positive effect on consumption can boost economic growth.

We remarked last week that emerging markets could face a difficult time ahead. Well, we didn’t have to wait long before the early manoeuvers in a possible currency war had an impact on sovereign CDS spreads.

London-listed Kazakh copper producer Kaz Minerals has signed a three year loan with Caterpillar Financial Services, adding to the firm’s $3.5bn of bilateral debt.

KazMunaiGas Trading — the trading arm of Kazakh oil company KazMunaiGas (KMG) — is in discussions for a syndicated loan for at least $1bn, according to bankers.