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KAZAKHSTAN: The European Bank for Reconstruction & Development and a group of commercial banks signed a US$300m syndicated financing package to support modernisation and restructuring at national railway KTZ on July 27.
EBRD is providing US$150m on its own account, and syndicating the remaining US$150m to Citibank, Mizuho Bank, Société Générale; Sumitomo Mitsui Banking Corp and Bank of Tokyo-Mitsubishi UFJ. The proceeds will be used to refinance KTZ’s eurobonds.
As part of the project, EBRD is to work with KTZ on tariff reform, restructuring and sustainable energy technologies.
This article first appeared on www.railwaygazette.com
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