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Bond Market News
KOC Terminates Talks To Sell Yapi Kredi Stake
June 3, 2024
KOC Holding has terminated the talks to sell its stake in Yapi Kredi after preliminary discussions with First Abu Dhabi Bank (FAB) did not result in any conclusion. The talks fell off as KOC Holding was seeking a higher price than what FAB was willing to offer, according to a Bloomberg report. None of the companies had hired advisers despite weeks of informal talks. Yapi Kredi shares fell by 5.6% on Friday’s close. The company priced an AT1 earlier this year at 9.75%.
Yapi Kredi’s bonds traded broadly stable with its 9.743% Perp at 100.99, yielding 9.49%.
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