By Christine Van Dusen
Atlanta, June 5 – Kazakhstan Temir Zholy Finance BV priced a two-tranche issue of CHF 200 million notes due June 20 of 2019 and 2022 (Baa3/BBB-/BBB), a market source said.
The deal included CHF 100 million of 2.59% notes due 2019 that priced at par to yield 2.59%, or mid-swaps plus 225 basis points.
A second tranche, CHF 100 million issue of 3.638% notes due 2022, priced at par to yield 3.638%, or mid-swaps plus 280 bps.
Credit Suisse, Deutsche Bank, HSBC, Halyk Finance and UBS were the joint bookrunners for the Regulation S deal.
Temir Zholy is an Astana, Kazakhstan-based railway operator.
| Issuer: | Kazakhstan Temir Zholy Finance BV
|
| Amount: | CHF 200 million
|
| Description: | Senior notes
|
| Bookrunners: | Credit Suisse, Deutsche Bank, HSBC, Halyk Finance, UBS
|
| Change of control put: | At 101
|
| Trade date: | June 4
|
| Settlement date: | June 20
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB-
|
| Fitch: BBB
|
| Distribution: | Regulation S
|
|
|
| Five-year notes
|
| Amount: | CHF 100 million
|
| Maturity: | June 20, 2019
|
| Coupon: | 2.59%
|
| Price: | Par
|
| Yield: | 2.59%
|
| Spread: | Mid-swaps plus 225 bps
|
|
|
| Eight-year notes
|
| Amount: | CHF 100 million
|
| Maturity: | June 20, 2022
|
| Coupon: | 3.638%
|
| Price: | Par
|
| Yield: | 3.638%
|
| Spread: | Mid-swaps plus 280 bps
|
|
|
|
|
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