New Issue: Turkey sells $1 billion bonds due 2015 to yield 7.45%

By Reshmi Basu

New York, Sept. 30 - The Republic of Turkey priced $1 billion of bonds due 2015 (B1/BB-) Thursday at 98.573 with a 7¼% coupon to yield 7.45%, according to market sources.

The deal came in line with price guidance. Guidance had been set in the 7½% area.

Citigroup and Morgan Stanley ran the SEC-registered bond offering.

Issuer:	Republic of Turkey
Amount:	$1 billion
Issue:	Bonds
Maturity:	March 15, 2015
Coupon:	7¼%
Issue price:	98.573
Yield:	7.45%
Spread:	333 basis points over comparable Treasuries
Pricing date:	Sept. 30
Settlement date:	Oct. 7
Managers:	Citigroup and Morgan Stanley
Ratings:	Moody's: B1
	Standard & Poor's: BB-

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