Jan 14, 2013. /Lesprom Network/. Kazakhstan Kagazy PLC announced that its subsidiary Kagazy Recycling LLP (the “Company") has signed a restructuring agreement for its outstanding debt with the European Bank for Restructuring and Development ("EBRD"). New terms include the extension of the maturity of the loan to 2016 and reduction of the margin on the loan’s interest to 4% per annum, providing financial covenants are met, as the company said in a press release received by Lesprom Network. Taisiya Kogutyuk, CEO of Kazakhstan Kagazy JSC, commented: "We are pleased with the signing of the restated and amended agreement with EBRD. This is another milestone in the Company’s progress towards the complete restructuring of its financial liabilities. We are thankful for EBRD’s vote of confidence in the Group's future." Herewith the Group concludes the debt restructuring of its Paper division, Kagazy Recycling LLP. The Paper division represents 79% of the Group revenues and 81% of its EBIT. In 2011 the Group finished the debt restructuring of its holding company, Kazakhstan Kagazy JSC. In 2013 the Group seeks to complete the restructuring of its Logistics division. This would conclude the financial restructuring of the whole Group. Unrestructured debt amounts to $114.5 million to date; restructured debt to $157 million. Kazakhstan Kagazy Group produces paper, corrugated cardboard and cardboard containers. It is a modern production company with vertically integrated production cycle that starts from the collection and processing of waste paper and production and distribution of paper, cardboard and containers.