By Rebecca Melvin
New York, Nov. 7 – The Republic of Turkey priced €1.5 billion of 5.2% notes due Feb. 16, 2026 (Ba3//BB) on Wednesday at 99.73 to yield 5¼%, or mid-swaps plus 456.4 basis points, according to a final pricing term sheet.
The yield was tightened from initial talk in the area of 5½%.
The Securities and Exchange Commission-registered global offering was sold via joint bookrunners BNP Paribas, HSBC and ING.
The notes will be listed on the Luxembourg Stock Exchange.
| Issuer: | Republic of Turkey
|
| Amount: | €1.5 billion
|
| Maturity: | Feb. 16, 2026
|
| Securities: | Global notes
|
| Bookrunners: | BNP Paribas, HSBC and ING
|
| Coupon: | 5.2%
|
| Price: | 99.73
|
| Yield: | 5¼%
|
| Spread: | Mid-swaps plus 456.4 bps
|
| Trade date: | Nov. 7
|
| Settlement date: | Nov. 14
|
| Expected ratings: | Moody's: Ba3
|
| Fitch: BB
|
| Distribution: | SEC registered
|
| Price talk: | 5½% area
|
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