Global law firm White & Case LLP has advised Barclays Bank PLC and HSBC Bank plc as Joint Lead Managers, and JSC Kazkommerts Securities as Kazakhstan Manager, on the offering of US$800 million 6.950 percent notes due 2042 by Kazakhstan Temir Zholy B.V.
The notes will be guaranteed by JSC National Company Kazakhstan Temir Zholy, the national railway company of Kazakhstan, and its subsidiaries JSC Kaztemirtrans and JSC Lokomotiv, with approximately US$220 million of the net proceeds being used to repay an existing bridge facility and the remainder to be used to acquire rolling stock.
“Deals of this size and maturity are rarely seen, particularly in the CIS, and it is a reflection of Kazakhstan Temir Zholy’s strong credit story that this placement was such a success,” said White & Case partner Melissa Butler.
The White & Case team was led by London partners Melissa Butler and Michael Doran and Almaty partner Maxim Telemtayev. They were supported by London associate Joshua Van der Ploeg and Almaty associates Pavel Kornilov, Assel Nassimoldina and Yevgeniy Ibragimov.
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