Turkey’s Vakifbank launches $650 million five-year bonds at 5.85%

By Rebecca Melvin

New York, Jan. 23 – Turkiye Vakiflar Bankasi TAO (Vakifbank) launched a $650 million offering of five-year bonds to yield 5.85%, a market source said on Tuesday.

Pricing of the launch was tight compared to initial price talk in the 6% area for the senior unsecured bonds. Final pricing was expected later Tuesday.

The initial order book was more than $1 billion.

Emirates NBD, First Abu Dhabi Bank, Goldman Sachs, Societe Generale and Unicredit are bookrunners of the deal.

Vakifbank is a lender based in Istanbul.

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