Chicago, Nov. 14 – Hazine Mustesarligi Varlik Kiralama Anonim Sirketi closed on a $2.5 billion offering of lease certificates due 2029 (B3//B), according to an offering document.
Republic of Turkey is the obligor.
The joint lead managers were Emirates NBD Capital, HSBC, J.P. Morgan, KFH Capital and QNB Capital.
Proceeds will be used by the republic for general financing purposes.
The issuer is a special purpose vehicle for the government and is used by the Turkish Treasury to issue sukuk certificates.
| Issuer: | Hazine Mustesarligi Varlik Kiralama Anonim Sirketi
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| Obligor: | Republic of Turkey
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| Amount: | $2.5 billion
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| Issue: | Lease certificates
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| Maturity: | Jan. 14, 2029
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| Bookrunners: | Emirates NBD Capital, HSBC, J.P. Morgan, KFH Capital and QNB Capital
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| Counsel to issuer: | Arnold & Porter Kaye Scholer LLP, Paksoy Ortak Avukat Burosu and In-house
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| Counsel to underwriters: | Clifford Chance LLP and Ciftci Attorney Partnership
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| Coupon: | 8.5091%
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| Price: | Par
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| Yield: | 8.5091%
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| Trade date: | Nov. 10
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| Settlement date: | Nov. 14
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| Ratings: | Moody’s: B3
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| Fitch: B
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| Distribution: | Rule 144A and Regulation S
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| ISIN: | US421790AK24, XS2689091846
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