QNB Capital, others act as JLMs on Turkey $2 billion 10-year bond

DOHA — QNB Capital acted as a joint-lead managers (JLMs) and bookrunner on the new Republic of Turkey $2 billion 10 year-long senior unsecured bond transaction, along with Barclays, Citi, and Goldman Sachs. The USD benchmark offers a semi-annual coupon of 6.00% and matures on March 25, 2027. It offers investors a yield of 6.15% (semi-annual), which is equivalent to a spread of 375.7 basis points over the 2% US Treasury due Nov. 15, 2026. The international offering attracted strong interest around the world being more than 3 times oversubscribed with excess of $6 billion order book from 256 accounts across the US, EU, and other regions. QNB Group is present in Turkey through “QNB Finansbank” which is ranked as the fifth largest privately-owned universal bank by total assets, customer deposits and loans in the Turkish market. — SG