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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