KAZ Minerals said it has signed a new $50 million revolving credit facility with Caterpillar Financial Services.

Caterpillar is a major supplier of mining equipment to KAZ’s Bozshakol and Aktogay projects in Kazakhstan.

The facility is available for drawing for three years from the date of signing. It is then repayable in four installments.

The interest rate has been set at USD LIBOR plus 4.25% and is payable on money outstanding on under the facility.

“This new facility with Cat Financial provides KAZ Minerals with additional liquidity during the construction and ramp-up of our major growth projects and broadens the group’s debt portfolio,” CFO Andrew Southam said in a statement.