By Colin Hanner
Chicago, May 4 – Turkey’s Fibabanka AS sold $300 million 7¾% 10-year notes to yield 7.8998% on Thursday, a market source said.
The notes (//BB-) priced at 99.997.
Initial price talk was in the 8% area, eventually tightening to 7¾%.
Citigroup and Standard Chartered Bank were the joint bookrunners for the deal.
The notes will be issued by Fiba Holding and will be consolidated with a previously issued $100 million notes issued on March 24.
Fiba Holding might decide to offer the previously issued notes in combination with the newly raised amount, a market source said.
Fibabanka is an Istanbul-based private bank.
| Issuer: | Fiba Holding
|
| Description: | Notes
|
| Amount: | $300 million
|
| Maturity: | 2027
|
| Bookrunners: | Citigroup and Standard Chartered Bank
|
| Coupon: | 7¾%
|
| Price: | 99.997
|
| Yield: | 7.8998%
|
| Trade date: | May 4
|
| Rating: | Fitch: BB-
|
| Price talk: | 7¾%, tightened from 8% area
|
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