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KazAgroFinance JSC Reduces the Interest Rates on Previous Leasing Contracts 15.02.2017

KazAgroFinance, apart from the recently declared reduction in interest rates on leasing of agricultural machinery and equipment, announced the reduction in the interest rate on the Financial Leasing Contracts previously signed in 2016.

Such a decision was adopted by the Board of Directors of the Company. It bears reminding that on the eve of the upcoming spring field and harvesting campaigns of 2017, KazAgroFinance JSC, a company within the National Holding KazAgro, has announced the reduction in the interest rates on leasing of agricultural machinery and equipment to 17.3% from 19.0% p.a.

The new decision on reduction in interest rates will involve 1 523 contracts for the total amount of KZT46 144 mln. previously signed between the Company and agricultural producers.

It is stated that this opportunity occurred due to reduction of the actual average funding cost of sources of investments for 2016 as a result of lack of the planned fund raising from the National Fund in 2016 in full, increase in amount and share of own funds, as well as reduction in actual passive rate for the Company.

According to KazAgroFinance JSC, the additional agreements to the previously signed Financial Leasing Contracts would be made with the Borrowers. This issue may be addressed to the Company’s Central Office located in Astana city or branches and representative offices throughout Kazakhstan.

More detailed information on programs and terms of financing is available at “Products” tab of KazAgroFinance JSC’s website (http://www.kaf.kz/products_company/products/financing-terms/).

Дата:  15.02.2017 18:25:00
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