November 27, 2017 / 3:03 AM / a year ago

Turkey begins marketing two-part Samurai bonds

TOKYO, Nov 27 (IFR) - The Republic of Turkey has begun official marketing of a two-tranche Samurai bond offering via a private placement.

A tranche of 10-year bonds, with the principal to carry a guarantee from Japan Bank for International Cooperation , is being marketed at a fixed price to yield 0.53 percent.

The other, without a JBIC guarantee, comprises three-year notes at 170-180 basis points over yen offer-side swaps.

During last week’s sounding-out period, the indicative prices were around 0.53 percent for the 10-year and a range of 170bp-190bp area for the three-year.

Daiwa, Mizuho and SMBC Nikko are joint lead managers on the issue, which is expected to price on Friday. (Reporting by Takahiro Okamoto; Editing by Steve Garton and Daniel Stanton)

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