Chicago, Feb. 8 – Turkiye Varlik Fonu priced $500 million of 8¼% five-year senior notes (//B) on Wednesday, according to a market source.
The notes priced at 99.498 to yield 8 3/8%. Initial talk had the notes coming in the 9 1/8% area.
JPMorgan (billing and delivery), BBVA and Standard Chartered Bank were the joint global coordinators and joint bookrunners for the Regulation S deal.
BofA Securities, Emirates NBD Capital, ICBC, ING, QNB Capital and Societe Generale worked as joint bookrunners.
The listing will be in Dublin.
The issuer will use the proceeds for general corporate purposes.
The issuer is the sovereign wealth fund for the republic of Turkey.
| Issuer: | Turkiye Varlik Fonu
|
| Amount: | $500 million
|
| Issue: | Senior notes
|
| Maturity: | Feb. 14, 2029
|
| Bookrunners: | JPMorgan (billing and delivery), BBVA and Standard Chartered Bank, BofA Securities, Emirates NBD Capital, ICBC, ING, QNB Capital and Societe Generale
|
| Coupon: | 8¼%
|
| Price: | 99.498
|
| Yield: | 8 3/8%
|
| Change of control: | At par
|
| Trade date: | Feb. 7
|
| Settlement date: | Feb. 14
|
| Rating: | Fitch: B
|
| Distribution: | Regulation S
|
| Price talk: | 9 1/8% area
|
| Marketing: | Investor meetings
|
| ISIN: | XS2764457235
|
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