KazMunaiGas has asked international banks to submit proposals for an unsecured loan worth $1 billion, Reuters reports. Banks may submit proposals by the end of March for the loan, which is double the size of the $500 million that the Kazakh state oil and gas company was planning to raise in January. The loan will be used to provide new money and refinance existing debt. The financing will be made through a special-purpose vehicle with the backing of KazMunaiGas.
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