Turkey sets official guidance on nine-year euro bond

Tue Apr 8, 2014 6:20am EDT

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LONDON, April 8 (IFR) - The Republic of Turkey has set official guidance of 4.25% area on its upcoming issue of a nine-year euro-denominated bond, according to market sources.

The sovereign opened books on the trade on Tuesday morning, setting initial price thoughts in the 4.375% area.

The new notes will mature on April 11, 2023.

Turkey is rated Baa3 by Moody's, BB+ by Standard & Poor's (unsolicited rating) and BBB- by Fitch.

(Reporting by Davide Scigliuzzo; Editing by Sudip Roy)

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