Published on 11/30/2012 in the Prospect News Emerging Markets Daily, Prospect News High Yield Daily and Prospect News Investment Grade Daily.
New Issue: Turkey's Yapi Kredi prices $1 billion 5½% 10-year notes at par
By Christine Van Dusen
Atlanta, Nov. 30 - Turkey's Yapi ve Kredi Bankasi AS sold $1 billion 10-year notes (Ba1//BBB) at par to yield 5½%, or Treasuries plus 388.5 basis points, a market source said.
Bank of America Merrill Lynch, Mitsubishi UFJ Securities, Morgan Stanley and Unicredit were the bookrunners for the Rule 144A and Regulation S deal.
Yapi Kredi is an Istanbul-based lender.
| Issuer: | Yapi ve Kredi Bankasi AS
|
| Amount: | $1 billion
|
| Maturity: | Dec. 6, 2022
|
| Description: | Subordinated tier 2 notes
|
| Bookrunners: | Bank of America Merrill Lynch, Mitsubishi UFJ Securities, Morgan Stanley, Unicredit
|
| Coupon: | 5½%
|
| Price: | Par
|
| Yield: | 5½%
|
| Spread: | Treasuries plus 388.5 bps
|
| Trade date: | Nov. 29
|
| Settlement date: | Dec. 6
|
| Ratings: | Moody's: Ba1
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
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