Yapi Kredi sets pricing for first Turkish AT1 bond

Turkey flag adobe stock AS 230x150
By Francesca Young
09 Jan 2019

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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