Published on 2/14/2018 in the Prospect News Emerging Markets Daily.
New Issue: Turkey’s Bereket One prices $205 million tier 1 capital at par, 10% initial rate
By Paul A. Harris
Portland, Ore., Feb. 14 – Bereket One Ltd. priced $205 million of tier 1 capital certificates (BB-) at par, according to a prospectus made available on the internet.
The initial interest rate in 10%. The reset margin is 7.327%.
Arab Banking Corp., Emirates NBD Bank, Noor Bank, Qinvest and Standard Chartered Bank managed the sale.
The issuer is based in Turkey.
| Issuer: | Bereket One Ltd.
|
| Amount: | $205 million
|
| Maturity: | Perpetual
|
| Securities: | Tier 1 capital
|
| Managers: | Arab Banking Corp., Emirates NBD Bank, Noor Bank, QInvest and Standard Chartered Bank
|
| Interest rate: | 10%
|
| Price: | Par
|
| Reset margin: | 7.327%
|
| Announcement date: | Feb. 14
|
| Settlement date: | Feb. 20
|
| Rating: | S&P: BB-
|
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