New bond issue: Turkiye Is Bankasi issued international bonds for USD 750.0m maturing in 2024 with a 6.125% coupon.

April 21, 2017 - Cbonds

 

Turkiye Is Bankasi issued international bonds for USD 750.0m maturing in 2024 with a 6.125% coupon. Bonds were sold at a price of 100% with an initial yield of 6.125%. Bookrunner: Citigroup, Emirates NBD, Erste Group, HSBC, Mizuho Financial Group, Wells Fargo
Depository: Euroclear Bank, Clearstream Banking S.A..
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Issuer, issue numberTurkiye Is Bankasi, 6.125% 25apr2024, USD
Type of debt instrumentInternational bonds
Issue statusoutstanding
Type of placementPublic
Par, currency of issueUSD 200,000
Amount750,000,000
ISINXS1578203462
End of placement04/20/2017
Initial issue price100
Yield at pricing6.125
Coupon6.125%
Coupon frequency2 time(s) per year
Settlement date04/25/2017
Maturity date04/25/2024
Issue ManagersBookrunner: Citigroup, Emirates NBD, Erste Group, HSBC, Mizuho Financial Group, Wells Fargo Depository: Euroclear Bank, Clearstream Banking S.A. Paying agent: BNY Mellon (London branch) Issuer Legal Adviser (International law): Mayer Brown International Issuer Legal Adviser (Domestic law): Yazici Legal Arranger Legal Adviser (International law): Allen & Overy Arranger Legal Adviser (Domestic law): Gedik & Eraksoy
Trading floorIrish S.E.
Issuer: Turkiye Is Bankasi
Issuer profile:
Isbank is one of the largest private banks in Turkey by assets, loans and deposits. Isbank, as of H1 2010, had total deposits of TRY50.8bln, a market cap of US$14.2bln and the largest branch network ... more
Outstanding issues:
13 issuesUSD7,750,000,000
16 issuesTRY5,309,156,905
1 issuesAUD15,000,000
Issuer rating:
Moody's Investors ServiceBa2/NegativeLT- foreign currency03/20/2017
Moody's Investors ServiceBa1/NegativeLT- local currency03/20/2017
S&P Global RatingsBB/NegativeForeign Currency LT01/31/2017
S&P Global RatingsBB/NegativeLocal Currency LT01/31/2017
Fitch RatingsBB+/StableLT Int. Scale (foreign curr.)06/08/2017
Fitch RatingsBB+/StableLT Int. Scale (local curr.)06/08/2017
Fitch RatingsAA+(tur)/StableNational Scale (Turkey)06/08/2017
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