Published on 10/31/2011 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: Turk Eximbank prices $500 million 5 3/8% notes due 2016 at Treasuries plus 437.5 bps
By Christine Van Dusen
Atlanta, Oct. 31 - Export Credit Bank of Turkey (Turk Eximbank) priced a $500 million issue of 5 3/8% notes due Nov. 4, 2016 (Ba1/BB) at 99.49 to yield Treasuries plus 437.5 basis points, a market source said.
Barclays Capital, Citigroup, Commerzbank and ING were the bookrunners for the Rule 144A and Regulation S deal.
Turk Eximbank is an export credit agency based in Ankara, Turkey.
| Issuer: | Export Credit Bank of Turkey (Turk Eximbank)
|
| Amount: | $500 million
|
| Maturity: | Nov. 4, 2016
|
| Description: | Notes
|
| Bookrunners: | Barclays Capital, Citigroup, Commerzbank, ING
|
| Coupon: | 5 3/8%
|
| Price: | 99.49
|
| Spread: | Treasuries plus 437.5 bps
|
| Trade date: | Oct. 28
|
| Settlement date: | Nov. 4
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB
|
| Distribution: | Rule 144A/Regulation S
|
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