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Published on 6/26/2012 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

Georgian Railway launches $500 million 10-year bonds at 7¾% yield

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, June 26 - JSC Georgian Railway (/BB-/BB-) launched a $500 million offering of senior unsecured bonds due July 11, 2022 to yield 7¾%, according to a market source.

The Regulation S and Rule 144A deal is coming via Bank of America Merrill Lynch, Goldman Sachs and JPMorgan.

Tbilisi, Georgia-based Georgian Railway is the sole operator of railways in Georgia.


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