Chicago, Sept. 7 – Yapi ve Kredi Bankasi AS (Yapi Kredi) priced $500 million of 9¼% sustainable bonds due Oct. 16, 2028 to yield 9 3/8% (B3//B-) on Thursday, according to a notice and additional information from a market source.
Initial price talk for the five-year notes was between 9 3/8% and 9½%.
The Rule 144A and Regulation S notes were offered by Citi (billing and delivery), BofA Securities, Emirates NBD Capital, ICBC, ING and Standard Chartered Bank.
The notes will be listed in Dublin.
Yapi Kredi is an Istanbul-based lender.
| Issuer: | Yapi ve Kredi Bankasi AS
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| Amount: | $500 million
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| Issue: | Sustainable bonds
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| Maturity: | Oct. 16, 2028
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| Bookrunners: | Citi (billing and delivery), BofA Securities, Emirates NBD Capital, ICBC, ING and Standard Chartered Bank
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| Sustainability adviser: | ING
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| Second opinion provider: | Sustainalytics
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| Coupon: | 9¼%
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| Yield: | 9 3/8%
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| Trade date: | Sept. 7
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| Settlement date: | Sept. 13
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| Ratings: | Moody’s: B3
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| Fitch: B-
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| Distribution: | Rule 144A and Regulation S
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| Marketing: | Investor meetings
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| Price talk: | 9 3/8% to 9½%
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| ISIN: | XS2445343689
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