New York, March 27 – Turkey’s Akbank TAS priced a $500 million sale of 5.125% 10-year notes at 99.037 to yield 5.25%, according to a prospectus.
The notes (Baa3//BBB-) priced in line with talk that had been set at a yield of 5.25%.
BofA Merrill Lynch, Commerzbank, JPMorgan, Morgan Stanley, National Bank of Abu Dhabi and Societe Generale CIB are the bookrunners for the deal, which was sold under Rule 144A and Regulation S.
Proceeds will be used for general corporate purposes.
Akbank is a lender based in Adana, Turkey.
| Issuer: | Akbank TAS
|
| Amount: | $500 million
|
| Maturity: | March 31, 2025
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Commerzbank, JPMorgan, Morgan Stanley, National Bank of Abu Dhabi and Societe Generale CIB
|
| Coupon: | 5.125%
|
| Price: | 99.037
|
| Yield: | 5.25%
|
| Call: | Non-callable
|
| Trade date: | March 25
|
| Settlement date: | March 31
|
| Distribution: | Rule 144A and Regulation S
|
| Ratings: | Moody’s: Baa3
|
| Fitch: BBB-
|
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