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Domestic bonds: Turkey, Bond 9r 21may2014
TRT210514T12

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Indexed

Issue
Issuer
  • M
    -
    ****
  • S&P
    -
    ****
  • F
    -
    ****
*in local currency
Status
Matured
Amount
8,642,907,422 TRY
Placement
***
Early redemption
*** (-)
Country of risk
Turkey
Current coupon
***%
Price
***%
Yield / Duration
-
Corporate Actions
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Issue information

Profile
Turkey has the sixth largest local currency bond market among the emerging market countries. Its key instruments are corporate bonds, commercial paper and bank bills. The corporate bond market in Turkey amounted to only TL481 million ...
Turkey has the sixth largest local currency bond market among the emerging market countries. Its key instruments are corporate bonds, commercial paper and bank bills.

The corporate bond market in Turkey amounted to only TL481 million (US$340million) at the end of 2009, jumping up to TL1.4 billion5 (US$1.9 billion) in end 2010 and to TL4.3 billion in end 2011. This is still very small in comparison to other major emerging market countries.

Since the Turkish eurobond market opened in early 2011, banks and corporates are now allowed to issue eurobonds directly without having to pay withholding tax on interest payments under the bonds. This change in law, along with the favourable market conditions, has encouraged many Turkish issuers (predominantly banks) to come to market.

Strategic benchmarks in public debt are:
- To make borrowing mainly in TL;
- To use fixed rate TL instruments as the major source of domestic cash borrowing and decrease the share of debt which has interest rate refixing period less than 12 months;
- To increase the average maturity of domestic cash borrowing taking market conditions into consideration and decrease the share of debt maturing within 12 months;
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  • Issuer
    Go to the issuer page
    Turkey
  • Full issuer name
    Republic of Turkey
  • Sector
    sovereign
Volume
  • Amount
    8,642,907,422 TRY
Nominal
  • Nominal
    100 TRY
  • Outstanding face value
    *** TRY
  • Par amount, integral multiple
    *** TRY

Cash flow parameters

  • Indexation
    inflation in Turkey (Turkey CPI Index)
  • Reference rate
    ***
  • Coupon Rate
    ***
  • Day count fraction
    ***
  • Interest Accrual Date
    ***
  • Coupon frequency
    *** time(s) per year
  • Payment currency
    ***
  • Delay days
    *** days
  • Maturity date
    ***
  • Early redemption date
    ***

Cash flow

Early redemption terms

***

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DATA PLATFORM FOR FINANCIAL MARKET PROFESSIONALS AND INVESTORS
  • High performance interface for global bond market screening
  • Full information on close to 450,000 bonds from 180 countries
  • 100% coverage of Eurobonds worldwide
  • Over 300 primary sources of prices
  • Ratings data from all international and local ratings agencies
  • Stock market data from 90 world trading floors
  • Intuitive, high speed user interface
  • Data access via the website, mobile application and add-in for Microsoft Excel

Placement

  • Placement method
    Open subscription
  • Placement type
    Public
  • Order book
    *** (***) - *** (***)
  • Coupon (Yield) Guidance
    ***% - ***% (*** - ***%)
  • Issuer rating on issue date (M/S&P/F)
    *** / *** / ***
  • Placement
    *** - ***
  • Initial issue price (yield)
    (***%)
  • Bids
    *** TRY
  • Number of bids
    ***
  • Geographic breakdown
    ***
  • Investor breakdown
    ***
  • Listing
    ***

Conversion and exchange

  • Convertion date
    ***
  • Initial premium
    ***%
  • Convertible until
    ***
  • Lock-up
    *** days
  • Conversion terms
    ***

Additional information

***

Latest issues

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News

20/02/2021 Fitch Ratings revised outlook on Turkey to stable and affirmed at "BB-" (LT Int. Scale (foreign curr.)) credit rating
20/02/2021 Fitch Ratings revised outlook on Turkey to stable and affirmed at "BB-" (LT Int. Scale (local curr.)) credit rating
20/01/2021 New bond issue: Turkey issued international bonds (US900123DC14) with a 5.875% coupon for USD 1,750.0m maturing in 2031
20/01/2021 New bond issue: Turkey issued international bonds (US900123DB31) with a 4.75% coupon for USD 1,750.0m maturing in 2026
08/12/2020 New bond issue: Turkey issued international bonds (US900123DA57) with a 5.95% coupon for USD 2,250.0m maturing in 2031
All organization news

Identifiers

  • Registration
    ***
  • Date of program registration
    ***
  • ISIN
    TRT210514T12
  • CUSIP
    ***
  • CUSIP 144A
    ***
  • Common Code
    044315173
  • CFI
    DBVTFB
  • FIGI
    BBG0000T7917
  • Ticker
    TURKGB 9 05/21/14 CPI
  • Type of security by CBR
    ***

Ratings



Bond classification

  • Coupon bonds
  • Bonds
  • Bearer
  • Indexed
  • Redemption Linked
  • Amortization
  • Callable
  • CDO
  • Convertible
  • Dual currency bonds
  • Floating rate
  • For qualified investors (CIS region)
  • Foreign bonds
  • Green bonds
  • Supranational bond issues
  • Mortgage bonds
  • Perpetual
  • Payment-in-kind
  • Non-Marketable Securities
  • Restructuring
  • Retail bonds
  • Covered
  • Securitization
  • Structured product
  • Subordinated
  • Sukuk
  • Trace-eligible
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Restructuring

***

***

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