Republic of Kenya
The National Treasury
International Sovereign Bond Issue
Request for Expression of Interest
Ref: GoK/ISBI/2013
International Lead Counsel
Introduction
1. The Government of the
Republic of Kenya through The National Treasury is considering accessing
the international capital markets by the second half of calendar year
2013 to issue a sovereign bond.
The targeted amount is
provisionally set at USD 1,000 million and will primarily be used to
finance infrastructure development in Kenya.
2. Through the proposed
transaction, the Government of the Republic of Kenya intends to
diversify its investor base, establish a pricing benchmark for future
issuance by both the public and private sector, as well as to promote
the Republic’s reputation and visibility amongst the international
investor community.
Scope of work
3. To provide comprehensive lead counsel services in international sovereign bond issue. This shall inter-alia include:
i. Working with the National Treasury to ensure timely completion of the transaction;
ii. Conducting due diligence, drafting and reviewing documentation for the issuance, including the
prospectus and related documentation;
prospectus and related documentation;
iii. Advising the issuer
on US and European securities law relating to disclosure, liability and
placement issues as they may arise;
iv. Advising the issuer and assisting with negotiating contractual arrangements with lead managers/book runners;
v. Preparing and coordinating legal and disclosure opinions to be given in connection with the issue; and
vi. Performing such other services as may be mutually agreed between the law firm and the Government of the Republic of Kenya.
4. The National Treasury
now invites eligible and experienced international law firms to indicate
their interest in providing the aforementioned services.
Prospective candidates should demonstrate the following in their response:
i. Verifiable track
record over the past five years in providing legal advice for sovereign
bond issuances in emerging markets, including debut issuance;
ii. International track
record reflecting the firm’s sovereign finance transactions in the last
five years, with particular emphasis on the emerging markets.
iii. Professional capability to undertake the work.
Submission
5. Completed Expression
of Interest documents in plain sealed envelope clearly marked on top
“EOI for International Lead Counsel” should be sent to the address
below:-
Financial Secretary
The National Treasury
6th Floor Treasury Building
Harambee Avenue
P.O. Box 30007 – 00100 GPO
Nairobi, Kenya
The National Treasury
6th Floor Treasury Building
Harambee Avenue
P.O. Box 30007 – 00100 GPO
Nairobi, Kenya
Deadline for submission of Expression of Interest is 15th July 2013 at 1600 hours Kenyan local time.
Request for Proposal (RFP) document will be sent to each short-listed firm thereafter
Enquiries
6. Requests for further information or clarifications from Interested eligible international law firms should be addressed to:
Director,
Debt Management Department
Debt Management Department
Tel No. +254 20 316718
Fax No. +254 20 315294
Email: dmd@treasury.go.ke or jmurugu@treasury.go.ke
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