Turkey priced yesterday a $2bn long 10-year Senior Unsecured global bond. The US dollar benchmark offers a semi-annual coupon of 6 percent and matures on March 25, 2027.
It offers investors a yield of 6.15 percent (semi-annual), which is equivalent to a spread of 375.7 basis points over the 2 percent US Treasury due November 15, 2026.
QNB Capital acted as a Joint-Lead Managers (JLM) and book-runner on the transaction along with Barclays, Citi, and Goldman Sachs. The international offering attracted strong interest around the world being more than three times oversubscribed with excess of $6bn orderbook from 256 accounts across the United States, European Union, and other regions.
QNB Group is present in Turkey through QNB Finansbank which is ranked the fifth largest privately owned universal bank by total assets, customer deposits and loans in the Turkish market.
