Turkiye Sinai Kalkinma Bankasi hosts meetings for more tier 1 notes

Chicago, March 12 – Turkiye Sinai Kalkinma Bankasi AS (B3//B-) started hosting fixed-investor meetings on Monday for an issue of additional tier 1 notes, according to a market source.

The bank is expected to price $300 million perpetual fixed-rate resettable notes with five years of call protection.

The notes will feature a temporary write-down mechanism upon breach of 5.125% common equity tier 1 capital of the issuer or the group.

Abu Dhabi Commercial Bank, BNP Paribas, Citi, ING and Standard Chartered Bank will be joint bookrunners for the Rule 144A and Regulation S offering.

The investment and development bank is based in Istanbul.

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