Treasury raises $3.5 billion via eurobond issue

ANKARA

A total of $3.5 billion has been raised through the issuance of U.S. dollar-denominated dual-tranche bonds with maturities of 7 and 12 years, the Treasury and Finance Ministry announced on Jan. 8.

Earlier this week, the ministry mandated Abu Dhabi Commercial Bank, BNP Paribas, Citi, Goldman Sachs and Standard Chartered for the bond issue.

The offering attracted an order book exceeding three times the issue size, with participation from nearly 200 accounts. 43 percent of the bonds were placed with investors in the U.K., 17 percent in Türkiye, 13 percent in the U.S., 13 percent in the Middle East, 12 percent across other European countries and 2 percent in Asia, the ministry detailed in the statement.

The March 2033 tranche has a yield of 6.35 percent and a coupon of 6.3 percent, while the January 2038 tranche has a yield of 6.9 percent and a coupon of 6.875 percent.

The proceeds of the issue will be transferred to the Treasury accounts on Jan. 14.