Isbank follows sub with senior
Turkiye Is Bankasi has released price guidance on a $500m five year senior bond via Deutsche Bank, JP Morgan, Mitsubishi UFJ and Standard Chartered Bank, the same leads that priced a $1bn lower tier two bond for the bank a fortnight ago.
The senior deal, talked at 337.5bp over mid-swaps, is capped at $500m. The Reg S/144A note is expected to price today (Thursday).
Isbank, which has senior unsecured ratings of Baa2/BB/BBB-, has only one senior bond outstanding, its $500m 5.1% February 2016s. Those trade around 105.2 to yield 3.4%.
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