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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Kazakh sovereign wealth units may borrow 1 trillion Tenge

Posted on 17 December 2012

Companies owned by Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, may borrow 1 trillion tenge ($6.6 billion) next year to fund investments and acquisitions. The companies plan to spend 2 trillion tenge on transactions such as investment projects and stake purchases, Nurlan Rakhmetov, the fund’s managing director, said yesterday in a phone interview from the capital, Astana. Half will come from debt and half from internal cash, he said.
Samruk-Kazyna’s units may raise debt internationally or at home, Rakhmetov said, with energy producer KazMunaiGaz National Co. poised to borrow $2.5 billion. The fund itself doesn’t plan to borrow………………………………..Full Article: Source


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