Turkey has priced a $2-billion senior unsecured global bond which offers a semi-annual coupon of six per cent for a tenure of 10 years.

QNB Capital acted as a joint-lead managers and book-runner on the transaction along with Barclays, Citi, and Goldman Sachs.

The USD benchmark matures on March 25, 2027. It offers investors a yield of 6.15 per cent (semi-annual), which is equivalent to a spread of 375.7 basis points over the two per cent US Treasury due on Nov 15, 2026.

The international offering attracted strong interest around the world being more than 3 times oversubscribed with excess of $6 billion order book from 256 accounts across the US, EU, and other regions.

QNB Group is present in Turkey through “QNB Finansbank” which is ranked the fifth largest privately owned universal bank by total assets, customer deposits and loans in the Turkish market.-TradeArabia News Service