OREANDA-NEWS. On June 12, 2009 KAZAKHMYS PLC, a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

Kazakhmys PLC (the "Group") announces the successful refinancing of the loan facility relating to MKM Mansfelder Kupfer und Messing GmbH ("MKM"), the Group's downstream copper business in Germany.

The facility is used to finance working capital requirements to match customer orders. The Group has been able to reduce the size of the facility, due to lower copper prices and more efficient management of inventory. The three year И 170 million revolving structured trade finance facility was arranged by Deutsche Bank and was over subscribed in syndication.

Matthew Hird, Chief Financial Officer said: "We are extremely pleased with the outcome of the refinancing, given the challenging conditions in financial markets. The over subscription reflects the quality of MKM's operations and management and a new 3 year facility enables MKM to continue developing their business".