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Kazakhstan|business|March 30, 2015 / 01:11 PM
KazAgro repays $100mln loan it took from HSBC Bank

AKIPRESS.COM - HSBC-bank-logo-007 KazAgro Holding said Monday it has re-payed the loan issued by HSBC Bank PLC in the amount of USD $100 million.

Earlier in January, the Holding had made a repayment of the loan from The Royal Bank of Scotland in the amount of USD $100 million US Dollars.

This repayment of the loan completes a series of payments of the principal debt to foreign creditors in the current year, said the Holding.

HSBC funds were attracted in order to finance working capital of the Holding Company, the implementation of public policies to stimulate and support the agro-industrial complex of the Republic of Kazakhstan, as well as financial recovery of agribusiness entities.

The funds were used to financial recovery of agribusiness entities, leasing of agricultural machinery, purchase of cattle.

 

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