By Christine Van Dusen
Atlanta, June 19 – Turkey’s Kuveyt Turk Katilim Bankasi AS printed a $500 million issue of 5.162% five-year Islamic bonds (expected rating: //BBB) at par to yield 5.162%, or mid-swaps plus 340 basis points, a market source said.
The notes were talked at a spread in the mid-swaps plus 375 bps area.
Standard Chartered Bank, Citigroup, Emirates NBD Capital, HSBC and KFH Investment were the bookrunners for the Regulation S deal.
Kuveyt Turk is an Istanbul-based Islamic financial institution.
| Issuer: | Kuveyt Turk Katilim Bankasi AS
|
| Amount: | $500 million
|
| Maturity: | June 26, 2019
|
| Description: | Islamic bonds
|
| Bookrunners: | Standard Chartered Bank, Citigroup, Emirates NBD Capital, HSBC and KFH Investment
|
| Coupon: | 5.162%
|
| Price: | Par
|
| Yield: | 5.162%
|
| Trade date: | June 19
|
| Settlement date: | June 26
|
| Expected rating: | Fitch: BBB
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 375 bps area
|
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