March 8, 2017 / 3:02 PM / 4 months ago

Turkey's Akbank tightens guidance for $500 mln Tier 2 bond - lead

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DUBAI, March 8 (Reuters) - Turkey's Akbank has tightened price guidance for its $500 million subordinated 10-year non-call five bond to 7.25-7.375 percent from an initial price guidance of 7.5 percent area, a document by one of the lead banks showed.

Order books for the Tier 2 paper were in excess of $1.75 billion. The bond is expected to price later on Wednesday.

Bank of America Merrill Lynch, Citi, Goldman Sachs International, HSBC, Societe Generale and Standard Chartered are the bookrunners.

Reporting by Davide Barbuscia; Editing by Jon Boyle

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