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 6 December 2012, Yapı Kredi successfully finalised a subordinated debt issuance of USD 1 billion with 10 years maturity at a 5.5% coupon rate. The transaction was lead managed by Bank of America Merrill Lynch, Morgan Stanley, Mitsubishi UFJ and UniCredit Bank.
Between 26-28 November, Yapı Kredi carried out a comprehensive 3-day roadshow covering in excess of 100 key accounts in the US, UK, Switzerland, Middle East and Asia.
The issuance received strong interest from institutional investors as well as commercial and private banks, leading to the offering being several times oversubscribed with over USD 7 bln demand. A broad range of accounts showed interest with 59% of demand from the UK and Europe, 23% from the US and Canada, 14% from Asia and 4% from the Middle-East and Latin America. Consequently, the issuance was priced at the tight end of the guidance.
The transaction represents a strongly rated subordinated debt issue, particularly in the Turkish market, with an investment grade rating of BBB- by Fitch and a rating of Ba1 by Moody’s.
Interest will be paid semi-annually in arrear with principal payment due at maturity. The maturity date will be 6 December 2022.
İstanbul, 6 December 2012
Enquiries:
Yapı Kredi Investor Relations
Tel: (90)(212) 339 7323
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The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America. The materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. 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.
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.
This release is an advertisement and is not a prospectus for the purposes of Directive 2003/71/EC, as amended (such directive, together with any applicable implementing measures in the United Kingdom under such Directive, the “Prospectus Directive”). The prospectus prepared pursuant to the Prospectus Directive can be obtained in accordance with the Prospectus Directive. Investors should not subscribe for any securities except on the basis of information contained in the prospectus.
This communication is being distributed only to and is directed only at (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (iii) high net worth bodies corporate 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.
Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Japan, Australia, Turkey or any other jurisdiction where to do so would be unlawful.
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.
This communication does not constitute an offer of securities to the public in Turkey.
Yapı Kredi / 06 Dec 2012