Just in:  

You are here: Home»Markets»Fixed Income»Asia»Kazakh state rail firm adds $300mn to 30 years bond

Kazakh state rail firm adds $300mn to 30 years bond

obondALMATY: Kazakh state railway monopoly Kazakhstan Temir Zholy (KTZ) has issued an additional $300 million in 30-year eurobonds, it said on Friday, as it seeks funds to pay for railway network expansion.


The company foresees investment of more than $40 billion in the Central Asian nation's railway network by 2020.


The paper, maturing on July 10, 2042, was priced to pay an annual coupon of 5.55 percent, below the original yield guidance of 5.70 percent.


It supplements an $800 million issue launched in July.


Order books for the dollar-denominated paper, opened for investors on Thursday, were heavily oversubscribed, with bids from over 100 investors totalling around $2 billion, KTZ said. US investors accounted for 40 percent of the bidders.


"The issue drew significant interest from institutional investors, and the bond was placed along the lower threshold of the reduced price range," the company said.


KTZ's $800 million eurobond was massively oversubscribed, with bids worth a total of $5.2 billion, when launched on the London and Kazakhstan stock exchanges in July, the company said at the time. It bore an annual coupon of 6.95 percent.


Last year, KTZ made a net profit of 123.2 billion tenge ($830 million).


Copyright Reuters, 2012


Index Closing Chg%
Arrow DJIA 17,812.19 0.11
Arrow Nasdaq 5,102.81 0.01
Arrow S&P 2,089.14 0.12
Arrow FTSE 6,277.23 0.45
Arrow DAX 10,933.99 1.43
Arrow CAC-40 4,820.28 1.41
Arrow Nikkei 19,879.81 0.23
Arrow H.Seng 22,587.63 0.35
Arrow Sensex 25,775.74 0.17

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln