Turkish Treasury mandates banks for 10-year Eurobond issue.

By bne IntelliNews January 22, 2014

As part of its 2014 external borrowing program, Turkey’s Treasury has mandated Citigroup, HSBC and Morgan Stanley for the issuance of a Dollar denominated bond due 2024. 

The Treasury did not provide other details but bankers told Reuters on Wednesday that initial price guidance for Turkish Treasury's 10-year dollar-denominated Eurobond is at around 6%. This issue will be a test for foreign investors’ appetite for Turkish assets and investors’ confidence in the Turkish economy.

The Treasury plans to borrow USD 6bn from international markets this year through Eurobond, Samurai and sukuk bond issues.

2013 External Borrowing
Issue type Issue date Maturity Currency Amount (USD) Coupon (%) Rate of Return (spread) bp
Global USD Jan-13 2023 USD 1.5bn 3.250 UST+160bp
Private placement Feb-13 2033 JPY 202mn 2.680 Yen Swap+89bp
Global USD Apr-13 2043 USD 1.5bn 4.875 UST+200.9bp
Global USD Nov-13 2021 USD 1.69bn 4.350 MS+272bp
Lease Certificate Issuance
  Issue date Maturity Currency Amount (USD) Yield Rate of Return (spread) bp
  Oct-13 2018 USD 1.25bn 4.557 MS+300bp
Total     USD 6.139bn    
Source: Treasury- Public Debt Management Report/Dec 2013    
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Despite local elections defeat Erdogan “remains in control” at head of “super-executive regime”, says analyst

Despite his AKP party’s defeat in the weekend’s local elections, Turkish President ... more

Upcoming local elections in Turkey neither free nor fair says EU-Turkey Civic Commission

The upcoming March 31 local elections in Turkey will be neither free nor fair, according to the EU-Turkey Civic Commission (EUTCC), a non-governmental organisation (NGO) backed by Kurdish groups. ... ... more

Turkish footwear manufacturers step up investments in Uzbekistan’s leather and footwear industries

Turkish footwear manufacturers are stepping up their investments in Uzbekistan’s leather and footwear industries, according to local reports. A $1mn investment in the manufacture of leather, ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    5 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss