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Eurobond Transaction of US$500 million

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

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA, TURKEY OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.

 

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.

 

This release is directed only at (i) persons who are outside the United Kingdom or (ii) persons with professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

 

This communication may be distributed in any member state of the European Economic Area which has implemented Directive 2003/71/EC (this Directive, as amended and as implemented in any member state, the "Prospectus Directive") only to persons who are qualified investors for the purposes of the Prospectus Directive in such member state, or to such other persons to whom this document may be addressed in compliance with all applicable laws, and no other persons may act on the basis of, or rely on, this document or any of its contents.

 

Istanbul, 22 October 2014

Enquiries:

Yapı Kredi Investor Relations

Tel: (90) (212) 339 7323

Email: yapikredi_investorrelations@yapikredi.com.tr

Yapı Kredi / 22 Oct 2014

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