Turkcell launches $500 million deal; Middle East calendar grows; Buenos Aires set to price

By Rebecca Melvin

New York, April 5 –Turkcell Iletisim Hizmetleri AS launched on Thursday a $500 million deal of 10-year notes to yield a below the tight end of guidance, and the Middle East region was active, adding another two deals to the calendar for a total of six now expected to price in the next week.

Pricing for the Istanbul-based mobile phone operator new 10-year note was set at 6.1%, compared to guidance of 6 1/8% to 6¼% and initial price talk of 6¼% area.

The size of the order book was more than $1 billion at the time guidance was released.

Joining the calendar is a Rule 144A and Regulation S five- and 10-year dual tranche deal for Oman Telecommunications Co. SAOG (Omantel).

Dubai’s Noor Bank PJSC announced a Regulation S only five-year, dollar-denominated Islamic bond, with that paper joining the Regulation S only sukuk for Sharjah Islamic Bank, which is also planning a five-year dollar benchmark.

These deals join Egypt’s dual tranche of euro notes expected to price next week as well as Mannai Corp. QPSC’s planned non-call five perpetual note and Damac Real Estate Development Ltd.’s possible five- or seven-year sukuk.

Elsewhere, DBS Group Holdings Ltd. priced €600 million tier 2 capital notes.

And terms were expected on Buenos Aires Province, which was pricing a peso-denominated seven-year floating rates note by auction.

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