Published: April 9, 2013
VP: Pricing was "higher than we anticipated".
Turkey's Şekerbank has postponed the launch of its debut eurobond.
Citi, Standard Chartered Bank and UniCredit ran a roadshow for the transaction, for which pricing guidance last week was 5.25%.
Zeki Onder, an executive vice-president at the bank, tells EMEA Finance that pricing was "a bit higher than we anticipated" and that the bank will now consider its next move. He adds that it has no urgency in raising the new capital: "This was our debut transaction. We just wanted to make sure the right message and the right price was communicated to the market."
If issued, the senior unsecured notes are expected to be rated Ba1 by Moody's and BB- by Fitch.