Kazakhstan Temir Zholy National Railways Operator obtained a loan of over $400 million from the Export-Import Bank of the United States

Kazakhstan Temir Zholy National Railways Operator obtained a loan of over $400 million from the Export-Import Bank of the United States, according to Lokomotiv LLP’s Press Service. Lokomotiv LLP [the actual borrower under the deal] is wholly owned by Kazakhstan Temir Zholy National Railways Operator. The loan agreement was signed between the the Export-Import Bank of the United States and Kazakhstan Temir Zholy November 26 in Washington DC. The document was signed by the Bank’s President Fred P. Hochberg and Lokomotiv LLP President Marat Medeubayev. “The agreement is for over $400 million. A major feature of the deal is direct financing”, the Company’s press release reads. According to Mr. Marat Medeubayev, the deal is the first occasion of direct financing of a Kazakhstan-based company by the Export-Import Bank of the United States. The loan will go to finance purchase of Evolution ES44ACi locomotives.