By Christine Van Dusen
Atlanta, May 2 - Turkey's Turkiye Sise ve Cam Fabrikalari AS (Sisecam) priced a $500 million issue of 4¼% notes due May 9, 2020 (Ba1/BB+/) at 99.265 to yield mid-swaps plus 310 basis points, a market source said.
The notes priced tighter than talk, set at the mid-swaps plus 337.50 bps area.
BNP Paribas, Citigroup, HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
Sisecam is an industrial group focused on glass and chemicals production. Istanbul-based lender Turkiye Is Bankasi AS (Isbank) owns a controlling 65% stake.
| Issuer: | Turkiye Sise ve Cam Fabrikalari AS (Sisecam)
|
| Amount: | $500 million
|
| Maturity: | May 9, 2020
|
| Description: | Senior notes
|
| Bookrunners: | BNP Paribas, Citigroup, HSBC, JPMorgan
|
| Coupon: | 4¼%
|
| Price: | 99.265
|
| Spread: | Mid-swaps plus 310 bps
|
| Trade date: | May 2
|
| Settlement date: | May 9
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-swaps plus 337.50 bps area
|
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