February 16, 2017 / 1:36 PM / 5 months ago

Turkey revises pricing to 5.75% area on March 2027 tap

1 Min Read

LONDON, Feb 16 (IFR) - The Republic of Turkey has announced official guidance of 5.75% area on an expected US$1bn tap of its March 2027 bond, according to leads.

The bond was initially marketed at 5.85% area.

The notes, which carry a 6% coupon, were originally priced on January 18 for US$2bn at 6.15%.

BNP Paribas, JP Morgan and MUFG are lead managers on the tap, which is today's business.

Turkey is rated Ba1 by Moody's and BBB- by Fitch.

Reporting by Sudip Roy, editing by Julian Baker

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