Turkey's Vestel guidance for $225 million seven-year bonds at Turkey 2012 bond plus 125-150 bps

By Reshmi Basu

New York, April 27 - Vestel Electronics Finance Ltd. set price guidance for its $225 million offering of seven-year bonds (Ba3/B+/BB-) at the Turkey bond due 2012 plus 125 to 150 basis points, according to a market source.

Credit Suisse First Boston and ABN Amro are running the Rule 144A/Regulation S issue of senior unsecured bonds.

The issuer is a special purpose vehicle for Turkish electronics maker Vestel Elektronik Sanayi ve Ticaret AS.

The new issue comes as Vestel conducts a tender offer for $200 million of 11½% notes due 2007.

The tender offer closes on May 3.

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