Istanbul Metropolitan Municipality (IMM)

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Istanbul Metropolitan Municipality (IMM)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	INDS	PRCD	IMM	Istanbul Metropolitan Municipality	$580		1	EMEA	Dec 2, 2020

Tranche #1Istanbul Metropolitan Municipality

currency

USD

size (m)

580.000

maturity

Dec 9, 2025

type

Fixed

tenor

5.000

call

registration

144A/Reg S

benchmark

Swaps

ranking

Sr. Unsecured

moody's

s&p

fitch

BB-

size description

re-open/tap

ipt

7% a

ipt-pxd

guidance

6.6-6.75% a

spread

612.6

coupon

6.375%

spread set

price

99.05500

yield

6.6%

book size (m)

2,400

peak book (m)

x-covered

4.14

book attrition

nic

left lead

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

2,400

peak book (m)

x-covered

4.14

book attrition

nic

left lead

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

5 yr: Book size: 2400; Registration: 144A/Reg S; Comments: USD580m 5yr RegS/144A. B2/NR/BB-. JBs BNPP/JPM(B&D)/Nomura/SG, ING JLM. IPTs 7% area for capped 580m size, guidance 6.75% area, launch 580m at 6.6%, bk >2.4bn. MS+612.6 / T+617.1 vs T 0 ⅜ 11/30/25 (@99-23+) / 5y MS+612.6. FTT 8am Thurs;

Use of Proceeds

Refinancing

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