Kazagro debuts euros as KTZ plans Swissie

By Steven Gilmore
15 May 2014

Kazagro made its debut in the euro market this week with a €600m five year bond, diversifying its investor base and beating its dollar funding levels into the bargain. Compatriot Kazakhstan Temir Zholy (KTZ), meanwhile, is aiming to make its own debut in the Swiss franc market.

Bookrunners Citi, HSBC, Royal Bank of Scotland and Tsesna Capital set guidance in the 265bp over mid-swaps area on Thursday. This became final guidance of 250bp-260bp and they priced the bond at 250bp the same afternoon. The deal drew €2.7bn in orders from 240 accounts, although the paper ...

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