Published: May 20, 2013
Turkish bank makes sixth issuance under TRY1.4bn programme, raising TRY200mn.
Turkey’s Turk Ekonomi Bankası (TEB) has raised TRY200mn (US$108mn) through a bond issuance.
The bank, part-owned by BNP Paribas, announced plans for the issuance earlier in May. Then it expected to raise TRY150mn, but scaled the size upwards due to demand. The paper carries a tenor of 386 days and an interest rate of 5.8%.
The deal comes as part of TEB’s TRY1.4bn bond programme. It has now raised some TRY893.4mn from the initiative across six issuances.