Turkiye Sinai Kalkinma Bankasi guides $350 million five-year notes at mid-swaps plus 325-335 bps

By Rebecca Melvin

New York, Jan. 9 – Turkey’s Turkiye Sinai Kalkinma Bankasi AS has guided pricing on its planned $350 million of five-year notes (expected ratings: Ba1//BB+) to yield mid-swaps plus 325 basis points to 335 bps, according to a market source on Tuesday.

Pricing on the Regulation S notes, for which final terms were expected later Tuesday, was initially talked in the mid-swaps plus 340 bps area.

Order books for the deal were last in excess of $900 million.

Bookrunners for the deal are BNP Paribas, Commerzbank, ING, Bank ABC, SG CIB, SMBC Nikko and UniCredit.

The Istanbul-based lender is pricing the senior notes under its global medium-term note program.

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