Kazakhstan Engineering guides to high 4s for debut

By Steven Gilmore
21 Nov 2013

Leads Halyk Bank, UBS and VTB Capital have released guidance on a debut dollar deal from machinery maker Kazakhstan Engineering (KE).

The state-owned borrower, rated Ba2/BBB-, is looking for $200m of three-year funding and guidance has been set at 4.5-4.875%, according to bankers away from the deal.

That equates a spread of up to 400bp over mid-swaps, one added, much wider than the 250bp level at which parent company ...

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