Published on 4/18/2012 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: Turk Eximbank prices $500 million 5 7/8% notes due 2019 at 445 bps over mid-swaps
By Aleesia Forni
Columbus, Ohio, April 18 - Export Credit Bank of Turkey SA priced $500 million 5 7/8% seven-year notes (Ba1/BB/) to yield mid-swaps plus 445 basis points, according to a syndicate source.
The Rule 144A and Regulation S notes priced at 98.927 to yield 6.065%.
Barclays Bank plc, Citigroup Global Markets Ltd., ING Bank NV and Standard Chartered bank were the bookrunners.
Turk Eximbank is an Ankara, Turkey-based export credit agency.
Issuer: | Export Credit Bank of Turkey SA
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Issue: | Notes
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Amount: | $500 million
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Maturity: | April 24, 2019
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Bookrunners: | Barclays Bank plc, Citigroup Global Markets Ltd., ING Bank NV, London Branch and Standard Chartered Bank
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Coupon: | 5 7/8%
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Price: | 98.927
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Yield: | 6.065%
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Spread: | Mid-swaps plus 445 bps
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Distribution: | Rule 144A and Regulation S
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Trade date: | April 13
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Settlement date: | April 20
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Ratings: | Moody's: Ba1
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| Standard & Poor's: BB
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