OREANDA-NEWS. December 28, 2012. Kazakhmys PLC announces the signing of a USD 1 billion pre-export finance debt facility (‘PXF’). The five year facility will provide additional liquidity during the development of the major copper projects at Bozshakol and Aktogay and is to be used for general corporate purposes. The new facility replaces the existing USD 2.1 billion facility which is due to mature in February 2013.

The Lenders in the transaction are Bank of China, Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank AG, ICBC (London and Almaty), ING Bank, Natixis, Societe Generale, Sumitomo Mitsui Banking Corporation and UniCredit as the Mandated Lead Arrangers and Bank of America Merrill Lynch, Citibank, Credit Agricole CIB, JP Morgan and The Royal Bank of Scotland as Arrangers. The agent is Deutsche Bank AG and the security trustee is ING Bank.

The facility has a one year availability period and principal repayments will then amortise over a three year period commencing from January 2015 until final maturity in December 2017. The interest rate is at USD LIBOR plus a margin of 2.80%.

Matthew Hird, Chief Financial Officer of Kazakhmys PLC stated: "We are delighted to have completed this replacement debt facility and the competitive pricing reflects the strength of our business. The facility will provide financial flexibility as we invest in our major expansion projects during the next three years and is a helpful addition to our project specific loans.”