SG Corporate & Investment Banking has arranged an unsecured 66-month US$100mn committed loan and hedging facility in favour of PetroKazakhstan Kumkol Resources (PKKR).
The committed facility is governed by a borrowing base and can be utilised, at the borrower’s discretion, either to draw short-term revolving cash advances or to enter into term crude oil price hedging transactions and is the first facility of this nature granted to a borrower in Kazakhstan.
SG CIB is acting as mandated lead arranger, lender, sole hedge provider and facility agent.
Syndication was launched in July.
PetroKazakhstan Inc, the parent company of PKKR, is a vertically integrated, international energy company, celebrating its seventh year of operations in Kazakhstan. It is engaged in the acquisition, exploration, development and production of oil and gas, the refining of oil and the sale of oil and refined products. In addition to PKKR, PetroKazakhstan owns and operates PetroKazakhstan Oil Products, Kazakhstan’s largest and most modern refinery located in Shymkent.
PetroKazakhstan shares trade in the US on the New York Stock Exchange, in Canada on the Toronto Stock Exchange, in the UK on the London Stock Exchange and in Germany on the Frankfurt exchange under the symbol PKZ.