KAZ Mineral has completed an amendment and extension of its pre-export finance loan facility which includes an increase in the facility commitments to $600m.
KAZ said the new PXF extended the maturity profile of the existing facility by 2.5 years from December 2018 until June 2021.
It said that under the revised repayment profile, principal repayments would commence in July 2018 and then continue in equal monthly instalments over a three-year period until final maturity in June 2021.
It added: "The facility amount has been increased to $600m reflecting strong support from the market during syndication.
"The balance of the $600m commitments over the $224m outstanding under the existing facility as at 31 May 2017 will be available for drawing over a six month availability period until December 2017."
The refinancing was coordinated by Deutsche Bank AG, ING Bank and Societe Generale Corporate and Investment Banking acting as coordinating mandated lead arrangers and bookrunners.
Other lenders in the facility are ABN AMRO Bank NV, Bank of China Limited, Citibank NA, Credit Agricole Corporate and Investment Bank, ICBC London, JP Morgan Chase Bank NA, Natixis, Rabobank London and UniCredit SpA.
Deutsche Bank AG continues as the agent bank and ING Bank is the security trustee.
Chief financial officer Andrew Southam said: "We are pleased to announce the signing of the amendment and extension of the PXF facility with an enlarged syndicate of 12 banks participating.
"The amended facility demonstrates continuing support for the Group from its lenders, with all existing banks maintaining or increasing their participation and four new banks joining the syndicate.
"The new PXF will enhance our financial flexibility as we complete the ramp up of output from our new mines at Bozshakol and Aktogay."