- - -i

Exchange Offer of DPR Notes

Regarding Yapı Kredi’s existing DPR programme which comprises 2006 and 2007 Issues guaranteed by different monoline companies, the Bank had announced the mandate of Standard Bank Plc and UniCredit Bank AG London Branch for an exchange offer of these monoline wrapped notes (with unwrapped notes) on 26 May 2010.

On 26 August 2010, the exchange offer was successfully finalized with the participation of 23 investors.

As a result of the finalisation of the offer, investors were able to exchange USD 600 million of original monoline wrapped notes (volume at face value, USD equivalent) with unwrapped notes having the same maturity profile whilst benefiting from a higher coupon.

This exchange offer demonstrates the quality and strong performance of Yapi Kredi DPR Programme, which is rated by Moody’s as Baa1 and by S&P as BBB on a stand alone basis.

Yapı Kredi / 26 Aug 2010

 
Was this helpful? Yes No