On 9 January 2024, Yapı Kredi successfully priced a 144A/Reg S, 10NC5 Basel III complaint Tier-2 deal with a coupon rate of 9.25%. ADCB, Citibank, J.P. Morgan, MUFG, SMBC and Standard Chartered acted as the Joint Lead Managers.
The transaction received over 3.7 times demand, consisting of a geographically diverse investor base.
Being the first capital transaction issuance out of Turkey after a while, the deal proves another testimony to Yapı Kredi’s strong and reputable position in Turkish banking industry as well as investor’s positive sentiment towards Turkey and Turkish FIs.
The transaction is expected to be rated Caa2 by Moody’s and CCC+ by Fitch.
Interest will be paid semi-annually in arrear and the issuer has a call option at the end of fifth year. The final maturity date is expected to be 17 January 2034.
Istanbul, 10 January 2024
Inquiries: Yapı Kredi Investor Relations
Email: yapikredi_investorrelations@yapikredi.com.tr