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The Republic of Türkiye (Turkey), rated Ba3 (Stable) / BB- (Stable) (Moody’s / Fitch), tightened the price on its $2 billion 10-year bond at 99.645, with a yield of 7% and a coupon rate of 6.95%, paid semi-annually.
The price was marginally tightened from initial price thoughts of 7.3%.
The senior unsecured bond has a settlement date of September 16 and will be listed on the Luxembourg Stock Exchange’s Regulated Market.
BBVA, Deutsche Bank, Goldman Sachs International, and JP Morgan (B&D) were bookrunners on the bond.
The Republic of Türkiye said the net proceeds of the offering for general budgetary purposes.
(Writing by Bindu Rai, editing by Brinda Darasha)
