By Christine Van Dusen
Atlanta, March 3 - Turkey's Akbank TAS sold $500 million 6½% notes due March 9, 2018 at 99.656 to yield 6.562%, or Treasuries plus 360 basis points, a market source said.
The notes priced slightly wider than talk, which was set at Treasuries plus 350 bps.
Citigroup, Credit Agricole, HSBC and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used for general corporate purposes.
Akbank is an Adana, Turkey-based financing company.
| Issuer: | Akbank TAS
|
| Amount: | $500 million
|
| Maturity: | March 9, 2018
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Credit Agricole, HSBC, Standard Chartered Bank
|
| Coupon: | 6½%
|
| Price: | 99.656
|
| Yield: | 6.562%
|
| Spread: | Treasuries plus 360 bps
|
| Trade date: | March 3
|
| Settlement date: | March 9
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 350 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
