Turkey’s Ziraat Bank markets 5-yr dollar bond in 5.5 per cent area

DUBAI: Turkey’s Ziraat Bank has given initial price guidance on a planned five-year US dollar bond in the 5.5 per cent area, a document issued by one of the banks leading the deal showed on Tuesday.

The 144 A, Regulation S senior and unsecured deal is expected to be of benchmark size, which usually means upwards of $500 million.

The bond is expected to price later on Tuesday. Bank of America Merrill Lynch, Citi, Emirates NBD Capital, Erste and JP Morgan are the deal bookrunners.