ANKARA: Turkey’s Akbank has tightened price guidance for its $500 million subordinated 10-year non-call five bond to 7.25-7.375 percent from an initial price guidance of 7.5 percent area, a document by one of the lead banks showed. Order books for the Tier 2 paper were in excess of $1.75 billion. The bond is expected to price later on Wednesday.
Bank of America Merrill Lynch, Citi, Goldman Sachs International, HSBC, Societe Generale and Standard Chartered are the bookrunners.
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