Georgian Railway Plans $250M Bond Sale

08.07.2010 (14:52)

Georgian Railway is seeking to raise $250 million from a Eurobonds sale, Bloomberg reports.

The state-owned rail company, which is planning to sell seven-year bonds, has appointed JPMorgan Chase and Merrill Lynch to manage the sale.

The company had secured a $126 million loan from the European Bank for Reconstruction and Development in March to fund the construction of a railway bypass. It sold $13.5 million of 13.5% bonds in a private placement in 2009.

www.emii.com