By Reshmi Basu
New York, April 25 - The International Bank for Reconstruction and Development (IBRD) (Aaa/AAA) sold a 500 million New Turkish lira offering of 10-year global bonds at 98.04 to yield 14.001%, according to a market source.
The deal priced in line with guidance that was in the 14% area.
ABN Amro, JP Morgan and TD Securities were lead managers for the deal, which was launched under the issuer's global debt issuance facility.
This was the first Turkish lira-denominated global bond as well as the first 10-year benchmark issue.
IBRD is one of the five institutions that make up the World Bank Group.
| Issuer: | International Bank for Reconstruction and Development
|
| Amount: | 500 million New Turkish lira
|
| Issue: | Global bonds
|
| Maturity: | May 9, 2017
|
| Coupon: | 13 5/8%
|
| Issue price: | 98.04
|
| Yield: | 14.001%
|
| Lead manager: | ABN Amro, JP Morgan & TD Securities
|
| Pricing date: | April 25
|
| Settlement date: | May 9
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Price guidance: | 14% area
|
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