By Reshmi Basu
New York, Nov. 18 - The Republic of Turkey priced a $500 million reopening of its 7¼% bonds due 2015 (B1/BB+) at 102, according to a market source.
The yield was 6.97% or Treasuries plus 285.9 basis points.
With the latest addition, the total size of the issue is $1.5 billion. On Sept. 30, Turkey priced the $1 billion bonds due 2015 at 98.573 to yield 7.45%.
Citigroup and Morgan Stanley were lead managers for the Rule 144A/Regulation S reopening.
| Issuer: | Republic of Turkey
|
| Amount: | $500 million
|
| Issue: | Reopening of 7¼% bonds due 2015
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| Maturity: | March 15, 2015
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| Coupon: | 7¼%
|
| Issue price: | 102
|
| Yield: | 6.97%
|
| Spread: | Treasuries plus 285.9 basis points
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 24
|
| Managers: | Citigroup, Morgan Stanley
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: BB+
|
| Distribution: | Registered
|
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