JSC Astana Finance signs a Memorandum of Understanding with its Export Credit Agency Creditors to restructure Astana Finance's trade finance indebtedness

JSC Astana Finance (the Company) is pleased to announce that it has signed a Memorandum of Understanding (the MoU) with each of the export credit agencies listed below (the ECAs), outlining the indicative terms for the restructuring of its trade finance indebtedness and that of JSC Astana Finance Leasing Company (the Leasing Company).

Under the MoU, the ECAs will consider continuing to provide financing, subject to due diligence, customary conditions and approvals, to the Leasing Company within the scope of its and their respective normal activities. This is a significant sign of support for the Leasing Company, which will enable it to consolidate its existing market position as the Kazakhstan economy exits the current downcycle.

The ECAs comprise Export-Import Bank of the United States, Export Development Canada, ONDD, Finnvera Plc., KUKE, CESCE Seguros de Credito, Swiss Export Risk Insurance (SERV) and Euler Hermes Kreditversicherungs-AG.

The Company is pleased with the progress achieved to date, wishes to thank the ECAs and all of its other creditors for their continued support, and looks forward to completing the proposed restructuring of its financial indebtedness in the near future. The  will be available on the Company's website: www.af.kz The MoU is already available here

updated 19.11.2009

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