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Domestic bonds: Turkey, Bond 5.7 18feb2015
TRD180215T17

  • Placement amount
    1,515,326,823 TRY
  • Outstanding amount
    1,515,326,823 TRY
  • Denomination
    100 TRY
  • ISIN
    TRD180215T17
  • CFI
    DBFTFB
  • FIGI
    BBG0045W3DW8
  • Ticker
    TURKSK 5.7 02/18/15

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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 borrower / issuer name
    Ministry of Treasury and Finance of the Republic of Turkey
  • Sector
    sovereign
Volume
  • Placement amount
    1,515,326,823 TRY
  • Outstanding amount
    1,515,326,823 TRY
Nominal
  • Nominal
    100 TRY
  • Outstanding face value
    *** TRY
  • Integral multiple
    *** TRY

Cash flow parameters

  • 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

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Early redemption terms

***

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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

14/09/2021 New bond issue: Turkey issued international bonds (US900123DD96) with a 6.5% coupon maturing in 2033
16/08/2021 Fitch Ratings affirms Turkey at "BB-" (LT Int. Scale (foreign curr.) credit rating); outlook stable
16/08/2021 Fitch Ratings affirms Turkey at "BB-" (LT Int. Scale (local curr.) credit rating); outlook stable
14/08/2021 Fitch Affirms Turkey at 'BB-'; Outlook Stable (Rating action commentary)
02/07/2021 New bond issue: Turkey issued international bonds (XS2361850527) with a 4.375% coupon maturing in 2027
All organization news

Identifiers

  • Registration
    ***
  • Date of program registration
    ***
  • ISIN
    TRD180215T17
  • CUSIP
    ***
  • CUSIP 144A
    ***
  • CFI
    DBFTFB
  • FIGI
    BBG0045W3DW8
  • Ticker
    TURKSK 5.7 02/18/15
  • Type of security by CBR
    ***

Ratings

Bond classification

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

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