Kazakh state rail firm picks Eurobond leads-source

Sept 21. Reuters

Kazakh state rail firm picks Eurobond leads-sourceKazakhstan’s state-run railway firm, Kazakhstan Temir Zholy, has picked the lead managers for a planned Eurobond issue and will meet investors in the United States and Europe this week, a banking source said.

KTZ has mandated Barclays Capital, HSBC and Royal Bank of Scotland to organise the dollar issue and will commence the roadshow on Wednesday, the source said.

Company spokeswoman Yelena Trifonova confirmed the roadshow would take place in Europe and the United States and said the volume and maturity of the issue would be decided later.

The planned deal comes at a time of increased investor appetite for issues from the region, as illustrated by a Ukraine sovereign issue as well as Eurobonds by two top Russian banks last week.

KTZ is rated Baa3 by Moody’s, BBB- by Fitch and BB+ by Standard & Poor’s, all with stable outlooks.

http://ph.news.yahoo.com/rtrs/20100921/tbs-kzt-eurobond-7318940.html

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