Turkey’s Koc Holding talk dollar seven-year notes at 5˝%-5 5/8%

By Christine Van Dusen

Atlanta, March 9 – Koc Holding AS set talk at 5˝% to 5 5/8% for its benchmark-sized offering of dollar-denominated notes due March 15, 2023 (expected ratings: Baa3/BBB-/), a market source said.

BNP Paribas, Citigroup, HSBC and JPMorgan are the bookrunners for the Rule 144A and Regulation S deal.

The notes will include a change-of-control option at par and a make-whole call three months prior to maturity.

The issuer is an Istanbul-based industrial conglomerate.

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