By Christine Van Dusen
Atlanta, Sept. 6 - Turkey's GarantiBank International NV priced a two-tranche issue of $1.35 billion notes due in 2017 and 2022 via Bank of America Merrill Lynch, Citigroup, Commerzbank and Morgan Stanley, a market source said.
The five-year tranche priced at a spread of Treasuries plus 350 basis points. The notes were talked at the Treasuries plus 375 bps area before guidance was tightened to the 365 bps area.
The 10-year tranche priced at a spread of Treasuries plus 370 bps. The notes were talked at the Treasuries plus 390 bps area, then tightened to the 380 bps area.
No other details were immediately available on Thursday.
GarantiBank is a lender based in Istanbul, Turkey.
| Issuer: | GarantiBank International NV
|
| Amount: | $1.35 billion
|
| Description: | Notes
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup, Commerzbank, Morgan Stanley
|
| Trade date: | Sept. 6
|
| Expected rating: Fitch: BBB-
|
|
|
| Notes due 2017
|
| Amount: | $600 million
|
| Maturity: | 2017
|
| Spread: | Treasuries plus 350 bps
|
| Price talk: | Treasuries plus 365 bps area
|
|
|
| Notes due 2022
|
| Amount: | $750 million
|
| Maturity: | 2022
|
| Spread: | Treasuries plus 370 bps
|
| Price talk: | Treasuries plus 380 bps area
|
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