Published: July 22, 2014
Turkish bank raises US$250mn with first visit to international debt markets.
Alternatifbank (known as ABank), a Turkish lender majority owned by Commercial Bank of Qatar, has sold its first international bond, raising US$250mn.
After a roadshow last week run by Bank of America Merrill Lynch and Commerzbank, the bank sold five-year paper with a coupon of 3.125% and a spread of 143 basis points over midswaps. The deal attracted an order book of US$1.5bn.
The bonds are guaranteed by Commercial Bank of Qatar.