Türkiye Halk Bankası A.Ş.
TRY denominated discounted bill issue with 175 – day maturity
December, 2014
Halkbank Bills Management Summary (3rd Tranche)
Book-Building Dates: December 8th –9th – 10th, 2014
Issue Specifics
Türkiye Halk Bankası A.Ş. issues 175 – day discounted bills for the 3nd tranche on
December 8th – 9th – 10th, 2014
•
Amount: TRY750,000,000 (*)
•
Description of the Borrowing Instrument: TRY – denominated discounted bills with 175 days to maturity
•
Form of Sale: Public Offering
•
Sole Book Runner: Halk Yatırım Menkul Değerler A.Ş. (Halk Invest)
•
Book-building Dates: December 8th –9th – 10th, 2014
•
Maturity of the Borrowing Instrument: 175 days / June 5th, 2015
•
Redemption Plan of the Borrowing Instrument: Bills are discounted securities; the principal amount and the accrued interest shall be paid
at maturity.
•
Interest Rate of the Borrowing Instrument: Weighted average compounded interest rate of the Reference Government Debt Instruments +
55 basis points (Please check p#3 for details)
•
Minimum Bidding Amount: TRY 1,000 nominal
•
Final Yield Announcement Date: December 10th, 2014
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Issue Results: December 11th, 2014
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Issue Date: December 12th, 2014
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Application for Local & Foreign Institutional Investors (Please see p#4 for details):
Institutional investors can only apply through Halk Yatırım Menkul Değerler A.Ş. (Halk Invest). Please find the contact details for the Halk
Invest Corporate Finance&Advisory department on the Page 5th.
•
Allocations according to investor types: The bills issued via public offering will be offered to domestic retail and institutional investors as
well as International Institutional investors. 50% of the offering shall be allocated to domestic retail and 50% of the offering shall be allocated to
both domestic and foreign institutional investors. Allocation process will be carried out after a consultation between the sole book runner (Halk
Invest) and the issuer (Halkbank) in which Halkbank is authorized to finalize the allocations of the issued bills by considering the relevant
regulations.
•
Listing: BIAS Debt Securities Market Outright Purchases and Sales Market (**)
(*)
The Public Offering volume may increase up to TRY 1,000,000,000 nominal depending on the total amount of bids for the bills.
(**)
Depending on the BIAS Board of Directors’ approval.
2
Price Determination
• Reference Government Debt Instruments to be used when calculating the interest rate of the bills (with 175 days to maturity):
TRT130515T11 maturing on the May 13th, 2015 and
TRT170615T16 maturing on the June 17th, 2015
• Two observation periods shall be taken into consideration to calculate the bill yield. Higher yield of;
First Observation Period: The daily trading volume-weighted average annual compounded yield of the abovementioned
government bills in the BIAS Debt Securities Market Outright Purchases and Sales Market on December 4th and 5th, 2014 or
Second Observation Period: The daily trading volume-weighted average annual compounded yield of the abovementioned
government bills in the BIAS Debt Securities Market Outright Purchases and Sales Market on December 8th, 9th and 10th,
2014.
• If the weighted average annual compounded yield of the second observation period is higher than the yield announced on the
December 5th, 2014 and is also higher than the average minimum compound interest rate then this yield shall be considered as a
basis in the calculation of the final interest rate of the bills. If this is not the case, the yield of the first observation period will be
applicable for the final interest rate calculation.
• The Interpolation method shall be applied for the benchmark yield calculation.
• An additional 55 basis points shall be added to the benchmark yield, in order to determine the interest rate of the bills.
• The indicative interest rate (calculated by the end of the first observation preiod) for the issued bills shall be announced before the
book-building process on the December 5th, 2014 via the Public Disclosure Platform; http://www.kap.gov.tr/en/home.aspx and
the issuer’s / book runner’s webpage.
3
Application – Institutional Investors
•
Institutional investors can only apply through Halk Yatırım Menkul Değerler A.Ş. (Halk Invest). Please find the contact details for the Halk Invest
Corporate Finance department on the Page 5th.
•
Institutional Investors are not obliged to open an account at Halk Invest or Halkbank if they have an active investment account at another Turkish
brokerage house, bank or a custodian bank in Turkey.
•
The final bidding forms for the demanded bills must be submitted by the December 10th, 2014 16:00 PM Istanbul time (14:00 PM GMT).
•
The institutional investors are not obliged to pay the bid amount at the time of the bid.
•
Following the preparation of the distribution list by Halk Invest and the approval of the list by Halkbank, the bank shall announce the final
distributed amount of bills to each client. Correspondingly, the institutional investors are required to make the payment for the bills that they are
entitled to have, on December 12th, 2014 by 12:00 PM Istanbul time (10:00 AM GMT).
•
Following the finalisation of the book-building, institutional investors do not have the right to cancel their bids and are obliged to make payments
to Halk Invest for the bills that they are entitled to.
•
Institutional investors shall also provide the required documents (including but not limited to):
1. Certificate of Fiscal Residence (which shall be required, if the client does not already have a tax number granted by the Turkish Tax
Administration)
2. Certificate of Incorporation (The document must be issued by the official registrar of the institutional investor’s base country and it
must be translated into Turkish by a sworn interpreter. Additionally, the document must include the signatory circular (for the
authorised person) and should be approved by a Turkish notary)
3. Certificate of Good Standing
4. Information about Tax Agent (or Tax Representative) and Tax Number
5. Settlement and Custody Account Details in Turkey
• The amount of the public debt instrument shall be deposited to the following bank account:
Türkiye Halk Bankası A.Ş.
Salıpazarı Commercial Branch (454)
IBAN: TR02 0001 2009 4540 0010 0002 47
4
Contacts
Uğur Deniz Şahin
Halkbank
Manager│Treasury Operations
[email protected]
Tel +90 216 503 55 85
Burak Altınsaç
Halk Invest
Director│Marketing & Corporate Relations
[email protected]
Tel +90 212 314 81 49
Ali İhsan Çamcı
Halk Invest
Director│Treasury
[email protected]
Tel +90 212 314 81 90
Ömer Gülser
Halk Invest
Senior Vice President│Corporate Finance
[email protected]
Tel +90 212 314 82 86
Halk Yatırım Menkul Değerler A.Ş.
Halide Edip Adıvar Mah. Darülaceze Cad.
No:20 Kat:4 34382 Şişli - İstanbul
Tel : +90 (212) 314 81 81
Fax : +90 (212) 221 31 81
Web: www.halkyatirim.com.tr
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Türkiye Halk Bankası A.Ş. issues 175 – day