By Christine Van Dusen
Atlanta, April 10 - Turkey's Akbank TAS priced a $250 million issue of 4 1/8% five-year notes (//BBB) at 99.442 to yield 4¼%, a market source said.
The notes were talked at a yield in the 4 3/8% area.
Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and Societe Generale were the bookrunners for the Regulation S deal.
The notes - issued by Ak Finansal Kiralama (AKLease) - include a change-of-control put if Akbank loses control of AKLease.
Akbank is a lender based in Adana, Turkey.
| Issuer: | Ak Finansal Kiralama (AKLease)
|
| Amount: | $250 million
|
| Maturity: | April 17, 2018
|
| Description: | Notes
|
| Bookrunners: | Emirates NBD Capital, HSBC, National Bank of Abu Dhabi, Societe Generale
|
| Coupon: | 4 1/8%
|
| Price: | 99.442
|
| Yield: | 4¼%
|
| Change-of-control put: | If Akbank loses control of AKLease
|
| Trade date: | April 10
|
| Settlement date: | April 17
|
| Rating: | Fitch: BBB
|
| Distribution: | Regulation S
|
| Price talk: | 4 3/8% area
|
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