March 8, 2017 / 8:11 AM / in 2 years

Turkey's Akbank sets initial price guidance for subordinated dollar bond -lead

DUBAI, March 8 (Reuters) - Turkey’s Akbank has set initial price guidance for its planned subordinated U.S. dollar bond in the region of 7.5 percent, a document issued by one of the lead banks showed.

The Tier 2 bond, which has a 10-year maturity and is non-callable for five years, is expected to amount to $500 million.

Bank of America Merrill Lynch, Citi, Goldman Sachs International, HSBC, Societe Generale and Standard Chartered are the bookrunners. The bond is expected to price on Wednesday.

Reporting by Davide Barbuscia; editing by Jason Neely

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