Kazakhstan Railway Operator Plans $1 Billion Debt Sale

Kazakhstan Temir Zholy, the Central Asian country’s sole railway operator, has picked banks to sell about $1 billion in debt, according to people familiar with the matter.

The state-run firm plans to sell the debt in overseas as well as domestic markets, the people said, asking not to be identified as the information is not public. JPMorgan Chase & Co., Societe Generale SA, Citigroup Inc, Standard Chartered Plc, Abu Dhabi Commercial Bank PJSC and Oman Investment Bank have been chosen for the international leg of the sale, the people said.