By Christine Van Dusen
Atlanta, Feb. 2 - Turkey's Yapi ve Kredi Bankasi AS priced a $500 million issue of 6¾% senior notes due Feb. 8, 2017 (Ba1//BBB-) at 98.96 to yield 7%, or Treasuries plus 627.6 basis points, a market source said.
The notes priced at the low end of talk, which was set at 7% to 7 1/8%.
JPMorgan, Standard Chartered and Unicredit were the bookrunners for the Rule 144A and Regulation S deal.
Yapi Kredi is a private bank based in Istanbul.
| Issuer: | Yapi ve Kredi Bankasi AS
|
| Amount: | $500 million
|
| Maturity: | Feb. 8, 2017
|
| Description: | Senior notes
|
| Bookrunners: | JPMorgan, Standard Chartered, Unicredit
|
| Coupon: | 6¾%
|
| Price: | 98.96
|
| Yield: | 7%
|
| Spread: | Treasuries plus 627.6 bps
|
| Trade date: | Feb. 1
|
| Settlement date: | Feb. 8
|
| Expected ratings: | Moody's: Ba1
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 7% to 7 1/8%
|
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