New Issue: Turkey prices €2 billion 5 7/8% notes due 2030 to yield 6 1/8%

By Marisa Wong

Los Angeles, March 14 – Turkey priced €2 billion of 5 7/8% notes due May 21, 2030 on Thursday, according to an FWP filing with the Securities and Exchange Commission.

The SEC-registered notes priced at 98.715 to yield 6 1/8%, or with a spread of 340.5 basis points to mid-swaps, or 375.2 bps to Bunds.

Deutsche Bank AG, London Branch, HSBC Bank plc, J.P. Morgan Securities plc and Societe Generale are the bookrunners.

Issuer:	Turkey
Amount:	€2 billion
Issue:	Notes
Maturity:	May 21, 2030
Bookrunners:	Deutsche Bank AG, London Branch, HSBC Bank plc, J.P. Morgan Securities plc and Societe Generale
Fiscal agent:	Citibank, NA, London Branch
Counsel to issuer:	Ministry of Treasury and Finance’s chief legal adviser (Turkey), Arnold & Porter Kaye Scholer LLP (U.S.)
Counsel to underwriters:	Clifford Chance LLP (U.K.), Pekin & Pekin (Turkey)
Coupon:	5 7/8%
Price:	98.715
Yield:	6 1/8%
Spread:	Mid-swaps plus 340.5 bps, or Bunds plus 375.2 bps
Pricing date:	March 14
Settlement date:	March 21
Listing:	Luxembourg
Distribution:	SEC registered
ISIN:	XS2790222116

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