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Turkish Treasury confirms raising USD 1.5bn via 2045 Eurobond, completes 70% borrowing programme.

February 16, 2014



The Treasury said on Thursday that as part of its 2014 external borrowing programme it raised USD 1.5bn in 2045 Eurobond issue.

The bond has a coupon of 6.625% and a yield to investor of 6.70% ant it attracted an orderbook of more than four times the actual issue size from around 300 accounts in more than 30 countries, the Treasury said in a statement. 45% of the bonds have been sold to investors in the US, 33% in the UK, 12% in Turkey and 10% in other countries.

With this transaction, the amount of funds that have been raised from international capital markets as part of the 2014 borrowing program has reached USD 4.64bn and more than 70% of the 2014 borrowing program has been completed, the Treasury detailed.



Bond issuances as part of Treasury's  2014 borrowing programme



Issue date



Currency



Size



Maturity date



Coupon (%)



Yield to investor (%)



Spread



Nov-13



EUR



1.25bn*



2021



4.350



4.450



MS+272bp



Jan-14



USD



2.5bn



2024



5.750



5.850



UST+299bp



Feb-14



USD



1.5



2045



6.625



6.700



UST+297bp



*Around USD 1.7 billion, 640 million of which is for pre-financing of 2014 external



borrowing program.


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Source: IntelliNews - Weekly Reports


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