New Issue: Turkey’s Akbank sells $500 million 4% five-year notes at 270 bps over mid-swaps

By Christine Van Dusen

Atlanta, Jan. 15 – Turkey’s Akbank TAS sold $500 million 4% five-year notes at 99.664 to yield 4.075%, or mid-swaps plus 270 basis points, a market source said.

The notes were talked at a spread in the 287.5 bps area.

Barclays, Citigroup, Goldman Sachs, ING, Mizuho Securities and Standard Chartered Bank were the bookrunners for the deal.

Akbank is a lender based in Adana, Turkey.

Issuer:	Akbank TAS
Amount:	$500 million
Maturity:	Jan. 24, 2020
Description:	Senior notes
Bookrunners:	Barclays, Citigroup, Goldman Sachs, ING, Mizuho Securities, Standard Chartered Bank
Coupon:	4%
Price:	99.664
Yield:	4.075%
Spread:	Mid-swaps plus 270 bps
Trade date:	Jan. 15
Settlement date:	Jan. 24
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 287.5 bps area

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