TSKB issues USD 350 million Eurobonds

22 October 2014
- 3 min Read

TSKB's debut Eurobond issue of USD 350 million was approximately four-times oversubscribed. The strong investor appetite for the bond issuance, despite the volatile market conditions, is a strong indicator of trust in TSKB and the Turkish economy” said Mr Türkakın, TSKB’s CEO... Özcan Türkakın added that the funds would be used to support investments promoting sustainable growth of the Turkish economy.

TSKB has issued USD 350 million worth bonds in the international debt capital markets. The 5 year senior unsecured bonds yielding 5.392% will have semi-annual coupon payments

Citi, Commerzbank, ING and Standard Chartered Bank were the Lead Managers on the deal. TSKB embarked on a well-planned roadshow in Europe where the bank conducted over 20 meetings within 3 days.

TSKB’s CEO Özcan Türkakın made the following comments with regard to the Eurobond issuance: "We think that the high demand for TSKB’s debut Eurobond issue, despite the financial fluctuations being experienced in international markets, is an indicator of the confidence felt in the strength of our Bank and the Turkish economy.

We are pleased to provide additional resources for the investments that will promote the sustainable growth of our country. We will continue our efforts in increasing the diversification of our funding base."