Published on 1/15/2013 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Turkey's Yapi Kredi sells $500 million 4% notes due 2020 at mid-swaps plus 273 bps
By Christine Van Dusen
Atlanta, Jan. 15 - Turkey's Yapi ve Kredi Bankasi AS priced $500 million 4% notes due Jan. 22, 2020 (Baa2//BBB) at 99.529 to yield mid-swaps plus 273 basis points, a market source said.
The notes priced tighter than initial talk, set in the mid-swaps plus 290 bps area.
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: | $500 million
|
| Maturity: | Jan. 22, 2020
|
| Description: | Senior notes
|
| Bookrunners: | Bank of America Merrill Lynch, Mitsubishi UFJ Securities, Morgan Stanley, UniCredit
|
| Coupon: | 4%
|
| Price: | 99.529
|
| Spread: | Mid-swaps plus 273 bps
|
| Trade date: | Jan. 15
|
| Settlement date: | Jan. 22
|
| Ratings: | Moody's: Baa2
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-swaps plus 290 bps area
|
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