Kazakh state rail firm to add $300 mln to 30-yr bond
ALMATY Nov 2 (Reuters) - Kazakh state railway monopoly Kazakhstan Temir Zholy (KTZ) is issuing an additional $300 million in 30-year eurobonds to supplement an $800 million issue in July, the lead manager said.
Order books for the dollar-denominated paper, with annual yield guidance of 5.7 percent and maturing on July 10, 2042, were opened for local and foreign investors on Thursday, the lead manager, Kazkommerts Securities, said in a statement.
KTZ's $800 million eurobond was heavily 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). The company foresees investment of more than $40 billion in the Central Asian nation's railway network by 2020. (Reporting by Dmitry Solovyov and Mariya Gordeyeva; Editing by Jeremy Laurence)