Published on 3/13/2018 in the Prospect News Emerging Markets Daily.
New Issue: Yapi Kredi prices $500 million five-year notes at par to yield 6.1%
By Rebecca Melvin
New York, March 13 – Turkey’s Yapi ve Kredi Bankasi AS priced $500 million of five-year bonds at par to yield 6.1%, according to a market source on Tuesday.
Pricing was tightened from initial talk in the 6¼% area.
Order books came in in excess of $950 million.
Societe Generale, HSBC, JPMorgan, MUFG, NatWest and UniCredit were the joint bookrunners of the Rule 144A and Regulation S notes.
Yapi Kredi is an Istanbul-based lender.
| Issuer: | Yapi ve Kredi Bankasi AS
|
| Description: | Notes
|
| Amount: | $500 million
|
| Maturity: | March 16, 2023
|
| Bookrunners: | Societe Generale, HSBC, JPMorgan, MUFG, NatWest, and UniCredit
|
| Coupon: | 6.1%
|
| Price: | Par
|
| Yield: | 6.1%
|
| Trade date: | March 12
|
| Settlement date: | March 16
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Initial talk in the 6¼% area
|
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