Turkey sells EUR 1.25bn in Eurobonds due 2021.

By bne IntelliNews November 7, 2013

The Treasury finalised a Eurobond issue on Wednesday due 2021 and raised EUR 1.25bn.

The bond that matures on November 12, 2021, has a coupon of 4.35% and a yield to investor of 4.45%.

The bond attracted an orderbook of three times the actual issue size from 25 countries. 46% of the bonds were sold to investors in Germany, 30% in Turkey, 15% in other European countries, 6% in the US and 3% in other countries, the Treasury said in a statement.

With this issue, The Treasury has completed its USD 6.5bn 2013 external borrowing programme. Approximately USD 640mn portion of the issue is for pre-financing of the 2014 external borrowing program, The Treasury said.

The total amount of external financing for 2014 is planned at TRY 14.8bn (EUR 5.5bn) via project and program loans from World Bank, European Investment Bank and other international financial institutions and through bond issuances in international markets.

Bond Issuances as part of 2013 borrowing programme
Issue Date Currency Size (mn) Maturity Date Coupon (%) Price Yield to Investor Yield to Investor (Spread)
(%) (%)
11.12.2012 USD 1,000 14.01.2041 6 126.564 4.352 UST + 158 bp
15.01.2013 USD 1,500 23.03.2023 3.25 98.093 3.473 UST + 160 bp
06.02.2013  JPY 18,400 07.02.2033 2.68 100 2.68 ¥ Swap + 89 bp
16.04.2013 USD 1,500 16.04.2043 4.875 98.834 4.95 UST + 201 bp
12.11.2013 Euro 1,250* 12.11.2021 4.35 99.339 4.45 MS + 272 bp
Source: Treasury
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