Published on 3/9/2016 in the Prospect News Emerging Markets Daily.
New Issue: Koc Holding prices $750 million 5¼% notes due 2023 to yield 5.4%
By Christine Van Dusen
Atlanta, March 9 – Turkey’s Koc Holding AS priced $750 million 5¼% seven-year notes (expected ratings: Baa3/BBB-) at 99.135 to yield 5.4%, a syndicate source said.
The notes were talked at a yield of 5½% to 5 5/8%.
BNP Paribas, Citigroup, HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
The issuer is an Istanbul-based industrial conglomerate.
| Issuer: | Koc Holding AS
|
| Amount: | $750 million
|
| Maturity: | March 15, 2023
|
| Description: | Notes
|
| Bookrunners: | BNP Paribas, Citigroup, HSBC, JPMorgan
|
| Coupon: | 5¼%
|
| Price: | 99.135
|
| Yield: | 5.4%
|
| Call options: | Make-whole call until three months prior to maturity, then at par
|
| Change-of-control put: | 100%
|
| Trade date: | March 9
|
| Settlement date: | March 15
|
| Expected ratings: Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5½% to 5 5/8%
|
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