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Murat Dogan Erden discusses Turkcell’s 10-year US$500mn Eurobond

Against a backdrop of political and economic volatility Turkey’s incumbent mobile telecoms provider Turkcell recently concluded the sale of an oversubscribed 10-year US$500mn Eurobond, with a redemption date of October 15 2025. The transaction was announced with initial price guidance of 6.25%. Following strong interest from European investors in the early hours of book-building, the orderbook quickly gained momentum – it was nearly 4 times oversubscribed – and the issuance resulted in a re-offer yield of 5.950% and 5.75% coupon. BNP Paribas, HSBC and Citigroup acted as Joint Lead Managers on the deal. We sat down with Murat Dogan Erden, Turkcell’s CFO to discuss the strategy behind the recent bond issuance and the factors leading to its success.

Nov 6, 2015 // 3:33PM

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