Eurobond Transaction of US$500 million
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On 15 October 2014, Yapı Kredi successfully priced a 5 year US$ 500 million Eurobond benchmark transaction. The notes were issued on 22 October 2014.
The transaction priced at mid-swap +370 basis points, 5 basis points inside initial price thoughts of mid-swap +375 basis points area. The coupon was set at 5.125% per annum and final yield was 5.179% per annum. The transaction was YKB’s first bond offering in 2014 and achieved the lowest coupon among its 5 year issuances.
Despite challenging market conditions, the book was comfortably oversubscribed. Commerzbank, JP Morgan, Société Générale Corporate & Investment Banking, Standard Chartered Bank and UniCredit Bank acted as joint lead managers. Issue Ratings: Baa3 (Moody's), BBB (Fitch).
The geographic distribution of investor allocation was 24% from Benelux, 20% from the Middle East, 16% from US, 16% from Switzerland, 12% from Other Europe (inc.UK), and 4% from Asia.
Yapı Kredi intends to use the proceeds from this offering for general corporate purposes.
This release is directed only at (i) persons who are outside the United Kingdom or (ii) persons with professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
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Istanbul, 22 October 2014
Enquiries: Yapı Kredi Investor Relations
Tel: (90) (212) 339 7323
Email: yapikredi_investorrelations@yapikredi.com.tr
Yapı Kredi / 22 Oct 2014