LONDON, August 13, 2012: The Japan Bank for International Cooperation (JBIC) recently signed a 297.5 million U.S. dollars buyer's credit (export credit) with LLP Atyrau Refinery, a subsidiary of JSC NC "KazMunayGas", the Republic of Kazakhstan state-owned oil and gas company. The loan is co-financed with the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), with Nippon Export and Investment Insurance (NEXI) providing Buyer's Credit Insurance for the portion co-financed by BTMU.
The 297.5 million U.S. dollars loan will fund the purchase of a fluid catalytic cracker (FCC) from Marubeni Corporation as part of a modernization project intended to minimize the environmental impact of the manufacturing process of the Atyrau Oil Refinery.
Morgan Lewis served as legal advisor to LLP Atyrau Refinery and JSC NC "KazMunayGas" on the transaction. The deal team was led by Business and Finance partner Bruce Johnston with assistance from associates Paul Denham and Nick Nigam in London, as well as partner Aset Shyngyssov and associate Aigul Abisheva in Almaty, and partners Lisa Yano, Yoshiyasu Yamaguchi and Kunio Namekata and associate Koji Fukatsu in Tokyo.
For more information, please see this news report on the deal.