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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

KazMunaiGaz to reduce foreign debt with $4 bln from oil fund

Posted on 05 March 2012

KazMunaiGaz National Co. will be able to cut its foreign debt by raising $4 billion from Kazakhstan’s National Oil Fund, according to its parent, sovereign wealth fund Samruk-Kazyna.
The state energy producer will sell two tranches of bonds to the National Oil Fund in 2013 and 2015. The notes will comply with an “international format, allowing for increased yields and exceptional liquidity for National Oil Fund investments,” Samruk-Kazyna, which holds the government’s 100 percent in KazMunaiGaz, said……………………………………….Full Article: Source


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