28 December 2007
AFX International Focus
LONDON (Thomson Financial) - Kazakhstan Kagazy PLC said the board of its Kazakhstan Kagazy JSC unit has decided to increase the share capital of the unit and its affiliated companies by 24 mln usd to facilitate the financing of its future development projects. The paper producer said the board also decided to raise the share capital of Kagazy Recycling LLP and affiliated companies by 10 mln usd, which was in accordance with the prior agreement with the European Bank for Reconstruction and Development. The company said it has also extended a 38.4 mln usd loan to its subsidiaries to refinance their existing debt.