KTZ board approves up to $1 bln Eurobond issueThe board of directors of national railway company Kazakhstan Temir Zholy (KTZ) has approved a Eurobond issue program of up to $1 billion in aggregate principal amount, according to a statement published on the Kazakhstan Stock Exchange (KASE) website.The Eurobonds will be offered under a bond program in both international and domestic markets through two tranches of up to $500 million each, the company said.The notes will be denominated in U.S. dollars and issued under the laws of England and Wales.The first tranche will have a tenor of up to five years, while the second will have a tenor of up to 10 years.The Eurobonds are expected to be offered to investors with potential listings on KASE and/or the Astana International Exchange (AIX), as well as admission to trading on the London Stock Exchange or other international exchanges.The notes will be guaranteed by KazTemirTrans and KTZ-Freight Transportation, the company said.Proceeds from the issuance will be used to finance KTZ’s investment projects.Kazakhstan Temir Zholy (KTZ) is a transport, warehousing and distribution company, which is part of Kazakhstan’s National Wealth Fund Samruk-Kazyna. KTZ operates the country’s railways, the infrastructure of seaports and airports, transportation and warehousing facilities. (ICE ALMATY)

Fonte notizia: INTERFAX