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IC - KazMunayGas paying down debt but still making more - May 2019



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Kazakhstan’s state-owned KazMunayGas announced an early redemption of $1 billion in 6% bonds in April and redemptions of $1.6 billion in eurobonds and paydown of $400 million in long-term debt to Russia’s Sberbank. During 2018 it issued $3.25 billion in eurobonds and partially restructured and extended the maturity of its debt. It ended 2018 with over $5 billion in cash and equivalents, its smallest year-end total in three years, and increased its net debt 61% to $5.8 billion. KazMunayGas also said......
 
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