Published: May 16, 2014
Kazakh national rail operator aiming to raise Swiss franc debt.
Kazakhstan Temir Zholy (KTZ), the national rail operator, has mandated banks to help it raise Swiss franc bonds.
Credit Suisse, Deutsche Bank, HSBC and UBS will be joint lead managers and joint bookrunners, Halyk Finance a joint lead manager and Tsesna Capital a “co-manager for investor meetings”. The meetings in question will commence in Kazakhstan on 20 May before moving to Switzerland.
Although this is its first Swiss franc issuance, KTZ is an experienced player in the international debt market. In November 2012 the company raised US$1.1bn in 30-year paper with a coupon of 6.950%. Barclays Capital, HSBC and Kazcommerz Securities managed the issuance.
The rail company operates 9000 miles of tracks and provides employment for 143,000 people, making it Kazakhstan’s largest employer.