Demand for Turkish bonds more than 3 times issue size
ISTANBUL - Anadolu Agency
"The offering attracted an orderbook more than three times the actual issue size from more than 200 accounts," the ministry said in a statement.
Three international lenders -- BNP Paribas, Deutsche Bank, and JP Morgan -- were authorized to issue euro-denominated Turkish bonds on Thursday due in March 2025, as part of the 2019 external borrowing program.
The transaction was finalized with a nominal amount of ?1.25 billion ($1.42 billion), according to the statement.
The bond has a coupon rate of 4.625 percent, and its yield rate for investors is 4.75 percent.
The largest national share of the bonds was sold to investors from the U.K. -- 47 percent -- followed by the U.S. with 21 percent, Germany with 6 percent, Switzerland with 5 percent, various other European countries with 12 percent, Turkey with 6 percent, and other regions with 3 percent.
"With this transaction, the amount of funds that has been raised from international capital markets in 2019 has reached a total of $3.4 billion," said the ministry.