Yapi Kredi places US$500mn bond

Yapi Kredi places US$500mn bond

Published: October 17, 2014

Turkish bank hits international market with five-year issuance.

Turkish bank Yapi Kredi has raised US$500mn with an international bond.

The five-year paper priced with a coupon of 5.125% and a spread of 370 basis points over mid-swaps, tightened from initial guidance of 375 basis points.

Commerzbank, JP Morgan, Societe General, Standard Chartered and UniCredit ran the deal as joint lead managers.

Benelux accounted for the largest share of investors at 24%. Twenty percent were from the Middle East, 16% from the US, 16% from Switzerland, 12% from Europe and the UK, 8% from Germany and 4% from Asia.