From today 26 September 2017, a new Collection Bond issued by Banca IMI, the investment bank of the Intesa Sanpaolo group, is listed directly on the MOT (Italian Stock Exchange) and EuroTLX markets: it is a fixed-rate bond denominated in Turkish Lire (ISIN XS1685354901 ). The bank itself communicates it.
This new issue, the press release specifies, offers potential investors the opportunity to obtain a gross annual yield of 11% in currency; moreover, being denominated in a foreign currency, the investor could benefit from the strengthening of the Turkish Lira against the Euro (the investment is exposed to the risk associated with the exchange rate trend).
Turkey's growth prospects improve for 2017-2018
In the second quarter of 2017, Turkish GDP grew at a rate of +2,1%, which stood above the consensus projections and accelerated by +1,3% compared to the previous quarter. The Turkish central bank reports the strengthening of domestic economic activity and domestic demand, maintaining a stable and restrictive approach on monetary policy.
Thanks to this issue, Banca IMI expands the offer of Bonds listed and tradable on regulated markets, which rise to 45 and which can be used to diversify one's investment portfolio, thanks to the possibility of choosing between different coupon structures and between as many as 10 different currencies.
THE OPERATION
The Fixed Rate Collection Bond in Turkish Lira Opera VII – ISIN XS1685354901 is of the Senior type and can be purchased and resold on Borsa Italiana and EuroTLX through your reference bank or via internet or phone banking. The purchase, payment of interest and repayment of principal take place in the currency of issue (TRY).
The minimum purchase denomination for each bond is TRY 5.000 and has a duration of 2 years. The gross coupon payment is on an annual basis and is equal to 11,00% up to deadline, September 25, 2019.
