Domestic bonds: Turkey, Bills 13may2020 (364D)
TRT130520T14

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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 (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

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Turkey
Full issuer name

Republic of Turkey
Sector

sovereign

Volume

Placement amount

7,153,000,000 TRY
Outstanding amount

7,153,000,000 TRY

Nominal

Nominal

100 TRY
Outstanding face value

*** TRY
Par amount, integral multiple

*** TRY

Cash flow parameters

Reference rate

***
Coupon Rate

***
Day count fraction

***
Business Day Convention

Following Business Day

Interest Accrual Date

***
Coupon frequency

*** time(s) per year
Payment currency

***
Delay days

*** days
Maturity date

***
Early redemption date

***

Cash flow

Early redemption terms

***

Auctions and additional placements

DATA PLATFORM FOR FINANCIAL MARKET PROFESSIONALS AND INVESTORS

High performance interface for global bond market screening
Full information on close to 500,000 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 100 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

TRT130520T14
CUSIP

***
CUSIP 144A

***
CFI

DBZTFB
FIGI

BBG00P4HZVD1
Ticker

TURKGB 0 05/13/20
Type of security by CBR

***

Ratings

Do not show withdrawn ratings

Bond classification

Zero-coupon bonds
Bills
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