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by Chris Reich
Jan 07, 2026 4:16 PM ET
The Republic of Turkiye (TURKEY), exp Ba3/BB- (s/s) by Moody's/Fitch, US$3.5bn SEC registered 2-part global sr notes (long 7y due 3/14/33 and 12y due 1/14/38). ADCB/BNP/Citi (B&D)/GS/StanChart joint books. Denoms: 200,000 x 1,000. Listing: Luxembourg Stock Exchange’s Regulated Market. Governing Law: New York Law. UOP: The Republic of Türkiye will use the net proceeds of the offering for general budgetary purposes. Books open, pricing today (1/7). Settle 1/14 (T+5).
IPTs: L7y 6.65% area, 12y 7.20% area.
FINAL PRICE GUIDANCE: L7y 6.35%#, 12y 6.90%#.
LAUNCHED: $2bn L7y at 6.35%, $1.5bn 12y at 6.90%.
PRICED:
$2bn 6.30% 3/14/33 99.726 6.35%. T+244.7 vs 12/32s.
$1.5bn 6.875% 1/14/38 99.798 6.90%. T+276.2 vs 11/35s.