By Aleesia Forni
Columbus, Ohio, Dec. 4 - The Republic of Turkey (Ba1/BB/BBB-) priced a $1 billion tap of its existing notes due Jan. 14, 2041 at 158 basis points over Treasuries, according to a market source.
Full terms were not available at press time.
Turkey priced $1 billion of the 6% notes in January 2011 and a $1 billion add-on to the notes in June 2012.
Proceeds will be used for general financing purposes, which may include the repayment of debt.
| Issuer: | Republic of Turkey
|
| Issue: | Notes
|
| Amount: | $1 billion reopening
|
| Maturity: | Jan. 14, 2041
|
| Bookrunners: | Bank of America Merrill Lynch, HSBC Bank plc, RBS Securities Inc.
|
| Coupon: | 6%
|
| Spread: | Treasuries plus 158 bps
|
| Trade date: | Dec. 4
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB
|
| Fitch: BBB-
|
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