Kazakh Refinery Lands $298M In Financing From JBIC Group

Law360, New York (August 13, 2012, 5:32 PM EDT) -- Kazakhstan's state oil and gas company on Wednesday landed $297.5 million worth of financing from a group of Japanese lenders led by the Japan Bank for International Cooperation, nearly completing funding for an upgrade of the country's oldest oil refinery.

JBIC inked a 13.5-year buyer's credit agreement with LLP Atyrau Refinery, a subsidiary of Kazakhstan's JSC National Company KazMunayGas that runs the 67-year-old Atyrau processing facility, according to parallel statements from the parties.

Under the agreement, JBIC and The Bank of Tokyo-Mitsubishi UFJ Ltd. will loan...
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