Published on 7/12/2016 in the Prospect News Emerging Markets Daily.
New Issue: Yapi Kredi prices $550 million 4½% notes due 2023 to yield 4 5/8%
By Christine Van Dusen
Atlanta, July 12 – Turkey’s Yapi ve Kredi Bankasi AS (Yapi Kredi) sold $550 million 4½% seven-year notes at 99.26 to yield 4 5/8%, or mid-swaps plus 342.6 basis points, on Tuesday, an informed market source said.
The notes were talked at a yield in the 4¾% area.
BofA Merrill Lynch, Deutsche Bank, HSBC, ING and UniCredit were the bookrunners for the Rule 144A and Regulation S deal.
Yapi Kredi is an Istanbul-based lender.
| Issuer: | Yapi ve Kredi Bankasi AS (Yapi Kredi)
|
| Amount: | $550 million
|
| Maturity: | July 19, 2023
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Deutsche Bank, HSBC, ING, UniCredit
|
| Coupon: | 4½%
|
| Price: | 99.26
|
| Yield: | 4 5/8%
|
| Spread: | Mid-swaps plus 342.6 bps
|
| Trade date: | July 12
|
| Settlement date: | July 19
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 4¾% area
|
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