UPDATE 1-Kazakhstan's KazMunaiGas mulls $2.5 billion loan

Tue May 6, 2008 1:58pm BST
 
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MOSCOW, May 6 (Reuters) - Kazakh state oil and gas firm KazMunaiGas [KMG.UL] is considering raising a $2.5 billion syndicated loan, a banking source told Reuters on Tuesday.

"Kazmunaigas is seeking funds for refinancing and general corporate purposes, including potential acquisitions," the source said. "The structure of the deal is unclear, it is in a very early stage."

Kazmunaigas took out a $3.1 billion one-year bridge loan in January to finance the acquisition of Romania's Rompetrol refinery. It paid 90 basis points over LIBOR. (Reporting by Dmitry Sergeyev; Writing by Olzhas Auyezov)

 

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