Yapi Kredi sets pricing for first Turkish AT1 bond
Yapi Kredi, the Turkish bank, has set the pricing for its additional tier one bond though eschewing a “traditional bookbuild process”.
The yield for the bond has been set at 13.875% with a size of $500m or $750m.
The bank’s shareholders have approval to buy up to 80% of the bond. Books for the note are at $800m with $400m of shareholder interest.“Because of the shareholder involvement it’s ...
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