Eurobond Transaction of US$500 million
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA, TURKEY OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.
On 3 December 2013, Yapı Kredi successfully finalised a Eurobond issuance of US$ 500 million 5 year fixed rate notes in 144a/RegS format. This transaction represents the first benchmark bond issued off Yapı Kredi’s Global Medium Term Note (GMTN) program which was established in September 2013.
Due to extensive investor meetings held globally over the past three years and Yapı Kredi’s strong standing across regions in debt capital markets, the deal was executed without the need of a roadshow. The transaction received orders in excess of US$ 3 billion leading to an oversubscription level of over 6 times. The strong interest from over 285 accounts allowed the transaction to be priced almost flat to the secondary curve with a coupon rate of 5.25%. The geographic distribution of investor allocation was well balanced and in line with previous Yapı Kredi benchmark transactions with 37% from Europe, 31% from UK, 26% from US, 4% from Asia and 2% from the Middle East.
The offering, lead managed by Bank of America Merrill Lynch, BNP Paribas, Citigroup, HSBC and UniCredit Bank AG, israted Baa2 by Moody’s and BBB by Fitch. The interest on the notes will be paid semi-annually with the principal payment due at maturity date, 3 December 2018.
Yapı Kredi intends to use the proceeds from this offering for general corporate purposes.
Istanbul, 3 December 2013
Enquiries: Yapı Kredi Investor Relations
Tel: (90) (212) 339 7647
Email: yapikredi_investorrelations@yapikredi.com.tr
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan, Australia, Turkey or any other jurisdiction where to do so would be unlawful. The materials do not constitute an offer of securities for sale in the United States of America, nor may the securities be offered or sold in the United States of America absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations there under. There is no intention to register any portion of the offering in the United States of America or to conduct a public offering of securities in the United States of America and any securities will only be offered for sale to "qualified institutional buyers" (QIBs) as defined in and in reliance upon Rule 144A under the U.S. Securities Act 1933, as amended, and outside the United States of America to persons other than U.S. persons investing in an "offshore transaction" under Regulation S under the U.S. Securities Act 1933, as amended.
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. The distribution of this communication, any offering, and other information referred to herein may be restricted by law and persons into whose possession this communication or such other information comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This communication is not being made, and this communication has not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended (the "FSMA").
This communication does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the securities. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (iii) high net worth entities falling within Article 49(2) of the Order and (iv) other persons to whom it may lawfully be communicated (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.
In connection with the sale of securities referred to herein, one or more parties named as the stabilising manager(s) (or persons acting on behalf of any stabilising manager(s)) may over allot securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. However, there is no assurance that the stabilising manager(s) (or persons acting on behalf of any stabilising manager(s)) will undertake stabilisation action. Any stabilisation action may begin on or after the date on which adequate public disclosure of the terms of the offer of the securities is made and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the issue date of the securities and 60 days after the date of the allotment of the securities. Any stabilisation action or over allotment must be conducted by the relevant stabilising manager(s) (or person(s) acting on behalf of any stabilising manager(s)) in accordance with all applicable laws and rules. FCA/ICMA Stabilisation.
This communication does not constitute an offer of securities to the public in Turkey.
Yapı Kredi / 03 Dec 2013