New Issue: Turkey’s Yapi Kredi prices $500 million 5 1/8% notes due 2019 at 370 bps spread

By Christine Van Dusen

Atlanta, Oct. 16 – Turkey’s Yapi ve Kredi Bankasi AS priced $500 million 5 1/8% notes due Oct. 22, 2019 (expected ratings: Baa3//BBB) at 99.765 to yield 5.179%, or mid-swaps plus 370 basis points, a market source said.

Commerzbank, JPMorgan, Societe Generale CIB, Standard Chartered Bank 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:	Oct. 22, 2019
Description:	Senior notes
Bookrunners:	Commerzbank, JPMorgan, Societe Generale CIB, Standard Chartered Bank, UniCredit
Coupon:	5 1/8%
Price:	99.765
Yield:	5.179%
Spread:	Mid-swaps plus 370 bps
Trade date:	Oct. 15
Settlement date:	Oct. 22
Expected ratings:	Moody’s: Baa3
	Fitch: BBB
Distribution:	Rule 144A/Regulation S

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