business and economy
Astana Finance signs term sheet with international creditors
(SRI) - Astana Finance signed an agreement with international creditors last week, outlining the planned restructuring of its debt, the lender said on Monday.
Astana Finance and the the creditors’ committee signed the non-binding document on Thursday night. The signing of the term sheet was originally scheduled for November 5 but continuing negotiations delayed the agreement by one week.
Astana Finance is now planning to sign a similar term sheet with its domestic creditors who are currently preparing a proposal to restructure the debt. The term sheet with international creditors does not enter into force until Astana Finance reaches an agreements with its domestic creditors.
Astana Finance seeks to slash $650 million off its $1.7 billion debt.
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