Republic of Kenya
The National Treasury
International Sovereign Bond Issue
Request for Expression of Interest
Ref: GoK/ISBI/2013
International Lead Manager
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 be primarily 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 Manager 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) Appointing Manager’s
Counsel and both conducting due diligence on the Offering and commenting
on the draft of the Offering Circular in a time-efficient manner;
iii) Assisting the
National Treasury in determining the most appropriate timing, format,
amount, tenor, coupon, all-in-cost, other relevant terms and conditions
of the bond, including best pricing scheme;
iv) Preparing, together with the Manager’s Counsel, the legal documents and agreements relevant to the Offering
v) Arranging Road Shows and Conference Calls to update investors as required
vi) Liaising with potential investors and managing the Book Building process for the Offering;
vii) Completing all aspects of listing and rating procedures;
viii) Acting as coordinator for all advisors (legal, accounting, etc.) involved in the Notes issuance;
4. The National Treasury now invites internationally acclaimed, experienced and recognized financial
institutions specialized in the provision of comprehensive lead manager services in sovereign debt issues at least over the last three years to express their interest in providing these services.
institutions specialized in the provision of comprehensive lead manager services in sovereign debt issues at least over the last three years to express their interest in providing these services.
Interested firms shall provide information indicating their:-
i) Professional experience in the issuance of international sovereign bond in emerging markets.
ii) International track record in secondary market support of international sovereign bond issue.
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 Manager” 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
financial institutions 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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