Announcement regarding Eurobond issuance
Announcement regarding Eurobond issuance
With regards to the bond or other borrowing instrument issuance up to US$1,500,000,000 in total or equivalent in any other foreign currency with different series and maturities, and fixed and/or floating interest rates to be determined at the time of issuance in accordance with market conditions, to be sold to investors outside of Turkey in one or more issuances; on August 31, 2012 we announced that Bank of America Merrill Lynch, Citigroup, Commerzbank and Morgan Stanley were mandated to arrange investor meetings on behalf of our bank and that the offering was expected to be rated Baa2 by Moody’s and BBB- by Fitch.
Following a series of investor meetings, the book building process of the bond issuance has been completed with the issuance of US$750 million 10 year fixed rate notes with a maturity date of 13 September 2022 and a coupon rate of 5.25%, which have been priced to yield 5.375% to investors, and US$600 million 5 year fixed rate notes with a maturity date of 13 September 2017 and a coupon rate of 4.00%, which have been priced to yield 4.175% to investors. In addition to the banks mandated to arrange investor meetings on behalf of the bank, BNP Paribas also acted as a co-manager in the transaction.