BRIEF-Fitch says Cyprus bond issue reduces refinancing risks
* Cyprus's EUR850 million bond issue reduces refinancing risks and demonstrates sovereign's improved financing flexibility
(Adds final price guidance)
DUBAI, April 25 Turkey's Ziraat Bank (Türkiye Cumhuriyeti Ziraat Bankası A.Ş.) has set final price guidance on its planned five-year U.S. dollar bond at 5.25-5.375 percent, with the notes expected to price within that range, a document issued by one of the banks leading the transaction showed on Tuesday.
Order books for the issuance, including joint lead managers' interest, were in excess of $1.3 billion, it said.
Ziraat gave initial price guidance at around 5.5 percent earlier on Tuesday.
The 144 A, Regulation S senior and unsecured bond, expected to be of at least $500 million, will price later on Tuesday.
Bank of America Merrill Lynch, Citi, Emirates NBD Capital, Erste and JP Morgan are the deal bookrunners. (Reporting by Davide Barbuscia; editing by Louise Heavens and Jason Neely)
* TWO BOARD MEMBERS YUSHENG ZHAO AND TUEN TING CHEUNG LEAVE BOARD AT OWN REQUEST AS OF TODAY