On 15 October 2014, Yapı Kredi successfully priced a 5 year US$ 500 million Eurobond benchmark transaction. The notes were issued on 22 October 2014
Eurobond Transaction of US$500 million
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On 15 October 2014, Yapı Kredi successfully priced a 5 year US$ 500 million Eurobond benchmark transaction. The notes were issued on 22 October 2014.
The transaction priced at mid-swap +370 basis points, 5 basis points inside initial price thoughts of mid-swap +375 basis points area. The coupon was set at 5.125% per annum and final yield was 5.179% per annum. The transaction was YKB’s first bond offering in 2014 and achieved the lowest coupon among its 5 year issuances.
Despite challenging market conditions, the book was comfortably oversubscribed. Commerzbank, JP Morgan, Société Générale Corporate & Investment Banking, Standard Chartered Bank and UniCredit Bank acted as joint lead managers. Issue Ratings: Baa3 (Moody's), BBB (Fitch).
The geographic distribution of investor allocation was 24% from Benelux, 20% from the Middle East, 16% from US, 16% from Switzerland, 12% from Other Europe (inc.UK), and 4% from Asia.
Yapı Kredi intends to use the proceeds from this offering for general corporate purposes.
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Istanbul, 22 October 2014
Yapı Kredi Investor Relations
Tel: (90) (212) 339 7323