New Issue: Turkey’s Turk Eximbank prices $500 million 5% seven-year notes at 275 bps spread

By Aleesia Forni

Virginia Beach, Sept. 16 – Export Credit Bank of Turkey SA (Turk Eximbank) sold $500 million of 5% seven-year notes with a spread of mid-swaps plus 275 basis points, a market source said.

The notes sold tighter than price guidance.

Pricing was at 99.493.

The bookrunners were MUFG, Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities.

Turk Eximbank is an Ankara, Turkey-based export credit agency.

Issuer:	Export Credit Bank of Turkey SA
Amount:	$500 million
Description:	Notes
Maturity:	2021
Bookrunners:	MUFG, Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Mizuho Securities
Coupon:	5%
Price:	99.493
Spread:	Mid-swaps plus 275 bps
Trade date:	Sept. 16
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 287.5 bps to 300 bps

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