New bond issue: Export Credit Bank of Turkey issued international bonds with a 4.25% coupon for USD 500.0m maturing in 2022

September 12, 2017 - Cbonds

 

September 11, 2017 Export Credit Bank of Turkey issued international bonds with a 4.25% for USD 500.0m maturing in 2022. Bonds were sold at a price of 99.333% with an initial yield of 4.44%. Bookrunner: Citigroup, HSBC, ING Wholesale Banking London, Mediobanca, Mizuho Financial Group, Mitsubishi UFJ Financial Group
Depository: Euroclear Bank, Clearstream Banking S.A.
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Issuer, issue numberExport Credit Bank of Turkey, 4.25% 18sep2022, USD
Type of debt instrumentInternational bonds
Issue statusoutstanding
Type of placementPublic
Par, currency of issueUSD 200,000
Amount500,000,000
ISINXS1684378208
End of placement09/11/2017
Initial issue price99.333
Yield at pricing4.44
Coupon4.25%
Coupon frequency2 time(s) per year
Settlement date09/18/2017
Maturity date09/18/2022
Issue ManagersBookrunner: Citigroup, HSBC, ING Wholesale Banking London, Mediobanca, Mizuho Financial Group, Mitsubishi UFJ Financial Group Depository: Euroclear Bank, Clearstream Banking S.A.
Trading floorIrish S.E.
Issuer: Export Credit Bank of Turkey
Issuer profile:
Turk Eximbank is a fully state-owned bank mandated to support foreign trade and Turkish contractors/investors operating overseas.
Turk Eximbank acts within the framework of Five-Year Development ... more
Outstanding issues:
5 issuesUSD2,750,000,000
Issuer rating:
Moody's Investors ServiceBa1/NegativeLT- foreign currency03/20/2017
S&P Global RatingsNR/Foreign Currency LT12/15/2016
S&P Global RatingsNR/Local Currency LT12/15/2016
Fitch RatingsBB+/StableLT Int. Scale (foreign curr.)02/02/2017
Fitch RatingsBBB-/StableLT Int. Scale (local curr.)02/02/2017
Fitch RatingsAAA(tur)/StableNational Scale (Turkey)02/02/2017
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countries
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