News Column

Halkbank's US dollar bond issuance receives high demand

June 3, 2014



ENP Newswire - 03 June 2014

Release date- 02062014 - Halkbank has issued five-year term fixed interest rate US currency bonds.

The total amount of the issuance was $500 million with an interest rate of 4.765 percent and an annual coupon rate of 4.750 percent. The bond offered the lowest borrowing rate in the first five-month period of 2014, and total demand rose nearly nine-fold due to high investor interest.

The bond issuance drew great interest from international investors settled in the Middle East and Asia, as well as those investors based in the US and Europe, showing Halkbank is a bank that is closely watched in the international markets.

Ali Fuat Taskesenlioglu, General Manager of Halkbank, stated that new borrowing levels were created following Halkbank's Eurobond issue, and that they projected a positive impact on the next issuances in the industry as a result of lower than expected borrowing costs.

'The trust placed in Halkbank by the international markets was demonstrated by the high level of interest following the announcement of the transaction. Even though such interest had led the price level being twice revised downward, we were delighted to witness both continued investor interest and an almost nine-fold rise in demand.

Halkbank has once again proved itself to be a popular and trusted brand, not only at home but also abroad. We are pleased with the success of the issuance process, and we will continue to strive to obtain new resources from abroad for our country, acting as an involved player in the international capital markets,' he said.


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Source: ENP Newswire


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