Related Issuers
by Chris Reich
Jan 08, 2025 10:45 AM ET
Turkiye Is Bankasi AS (ISCTR), exp B- by Fitch, US$500m (no grow) 144A/Reg S PerpNC5.5 AT1 jr subordinated notes. 7/15/30 first call date. MS/ADCB/ENBD/JPM/SG/StanChart joint books. Coupon: Fixed until 7/15/30, if not called resets at CMT Rate + margin. Tax changes call, regulatory / capital disqualification call. UOP: GCP. Pricing 1/8. Settle 1/15.
IPTs: 9.50% area.
GUIDANCE: 9.125-9.25%.
LAUNCHED: $500m PerpNC5.5 at 9.125%.