Obligation Turkiye 9.875% ( US900123AP53 ) en USD

Société émettrice Turkiye
Prix sur le marché 100 %  ⇌ 
Pays  Turquie
Code ISIN  US900123AP53 ( en USD )
Coupon 9.875% par an ( paiement semestriel )
Echéance 19/03/2008 - Obligation échue



Prospectus brochure de l'obligation Turkey US900123AP53 en USD 9.875%, échue


Montant Minimal 100 000 USD
Montant de l'émission 1 350 000 000 USD
Cusip 900123AP5
Description détaillée La Turquie est un pays transcontinental situé à la fois en Europe et en Asie, possédant un riche héritage culturel et historique qui englobe des influences byzantines, ottomanes et anatoliennes.

L'Obligation émise par Turkiye ( Turquie ) , en USD, avec le code ISIN US900123AP53, paye un coupon de 9.875% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 19/03/2008







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Table of Contents
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-103059

PROSPECTUS SUPPLEMENT
(to Prospectus dated March 10, 2003)
$750,000,000

TÜRK·YE CUMHUR·YET·
(The Republic of Turkey)
9.875% Notes due 2008
The Republic of Turkey (the "Republic") is offering $750,000,000 principal amount of its 9.875% Notes due
March 19, 2008. The notes will constitute direct, general and unconditional obligations of the Republic. The full
faith and credit of the Republic will be pledged for the due and punctual payment of all principal and interest on
the notes. The Republic will pay interest on March 19 and September 19 of each year, beginning on
September 19, 2003.
As of their issuance, the notes will be fully fungible with, rank equally with, and form a single issue and series
with our $600,000,000 9.875% Notes due 2008, which were issued on March 19, 2002. The total principal
amount of the previously issued notes and the notes now being issued will be $1,350,000,000.
We have applied to list the notes on the Luxembourg Stock Exchange in accordance with its rules.
Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these notes or determined that this prospectus supplement or the accompanying prospectus
is truthful or complete. Any representation to the contrary is a criminal offense.
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Per Note

Total



Public Offering Price

104.067%
$780,502,500
Underwriting Discount


0.3%
$
2,250,000
Proceeds to the Republic of Turkey(1) (before
expenses)

103.767%
$778,252,500

(1) Plus accrued and unpaid interest, from and including March 19, 2003 to but excluding the delivery date, in
the amount of $19,338,541.67. Purchasers of the notes will be entitled to receive the semi-annual regular interest
payment on September 19, 2003.
The underwriters are offering the notes subject to various conditions. The underwriters expect delivery of the
notes on or about June 23, 2003, through the book-entry facilities of The Depository Trust Company.
Joint Book Running Managers



Credit Suisse First Boston

Morgan Stanley
Co-Managers



ABN AMRO

Alpha Bank
BNP PARIBAS

Citigroup
Crédit Agricole Indosuez

Deutsche Bank
Merrill Lynch & Co.

Türkiye ·· Bankasi A.·.
June 17, 2003

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TABLE OF CONTENTS
OFFERING SUMMARY
RECENT DEVELOPMENTS
DESCRIPTION OF THE NOTES
GLOBAL CLEARANCE AND SETTLEMENT
TAXATION
UNDERWRITING
LEGAL MATTERS
PROSPECTUS
WHERE YOU CAN FIND MORE INFORMATION
USE OF PROCEEDS
DEBT SECURITIES
PLAN OF DISTRIBUTION
VALIDITY OF THE SECURITIES
OFFICIAL STATEMENTS
AUTHORIZED AGENT
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Table of Contents
The Republic has made all reasonable inquiries and confirms that this prospectus supplement and the
accompanying prospectus dated March 10, 2003, including the documents incorporated by reference, contain all
information with respect to the Republic and the notes that is material in the context of the issue and offering of
the notes, and that this information is true and accurate in all material respects and is not misleading, that the
opinions and intentions expressed herein and therein are honestly held and that, to the best of the Republic's
knowledge and belief, there are no other facts the omission of which would make any of this information or the
expression of these opinions and intentions misleading. The Republic accepts responsibility accordingly.
You should rely only on the information contained in this prospectus supplement and the accompanying
prospectus, including the documents incorporated by reference, in making your investment decision. We have not
authorized anyone to provide you with any other information. If you receive any unauthorized information, you
must not rely on it.
We are offering to sell the notes only in places where offers and sales are permitted.
You should not assume that the information contained in this prospectus supplement or the accompanying
prospectus is accurate as of any date other than its respective date.
TABLE OF CONTENTS






Page


Prospectus Supplement



Offering Summary


S-3
Recent Developments


S-5
Description of the Notes

S-12
Global Clearance and Settlement

S-15
Taxation

S-19
Underwriting

S-23
Legal Matters

S-25
Prospectus



Where You Can Find More Information


2
Use of Proceeds


3
Debt Securities


3
Plan of Distribution


12
Validity of the Securities


13
Official Statements


13
Authorized Agent


13
We are a foreign sovereign state. Consequently, it may be difficult for investors to obtain or realize upon
judgments of courts in the United States against us. See "Debt Securities -- Governing Law and Consent to
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Service" in the accompanying prospectus.
References to "TL" in this prospectus supplement are to the Turkish Lira, the Republic's official currency.
References to "U.S.$," "$," "U.S. dollars" and "dollars" in this prospectus supplement are to lawful money of the
United States of America.
S-2
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Table of Contents
OFFERING SUMMARY
The following summary is qualified in its entirety by reference to the more detailed information appearing
elsewhere in this prospectus supplement and the accompanying prospectus.



Issuer

The Republic of Turkey.



Securities Offered
$750,000,000 principal amount of 9.875% Notes due March 19,

2008.



Maturity Date

March 19, 2008.



Issue Price
104.067% of the principal amount of the notes plus accrued
interest from and including March 19, 2003 to but excluding the

delivery date.



Interest Payment Dates
March 19 and September 19 of each year, commencing

September 19, 2003.



Status and Ranking
The notes will be fully fungible with, rank equally with, and
form a single series with our $600,000,000 9.875% Notes due
March 19, 2008, which were issued on March 19, 2002.
Following the issuance of the notes pursuant to this prospectus
supplement, the aggregate principal amount of the 9.875%
Notes due March 19, 2008 of the Republic will be

$1,350,000,000.




Upon issuance, the notes will be our direct unconditional and
general obligations and will rank equally with our other external
debt denominated in currencies other than Turkish Lira which is
(i) payable to a person or entity not resident in Turkey and
(ii) not owing to a Turkish citizen. See "Debt Securities --
Status of the Debt Securities" and "Debt Securities -- Negative

Pledge" in the accompanying prospectus.



Markets
The notes are offered for sale in those jurisdictions where it is

legal to make such offers. See "Underwriting."



Listing
We have applied to list the notes on the Luxembourg Stock

Exchange in accordance with its rules.



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Negative Pledge
Clause (9) of the definition of Permitted Lien set forth on pages
five and six of the accompanying prospectus shall read as
follows for purposes of the notes: Liens on any assets (other
than official holdings of gold) in existence on March 19, 2002,
provided that such Liens remain confined to the assets affected
thereby on March 19, 2002 and secure only those obligations so

secured on March 19, 2002.



Form
The notes will be book-entry securities in fully registered form,
without coupons, registered in the names of investors or their
nominees in denominations of $1,000 and integral multiples of

$1,000 in excess thereof.



Clearance and Settlement
Beneficial interests in the notes will be shown on, and transfer
thereof will be effected only through, records maintained by
The Depository Trust Company ("DTC") and its participants,
unless certain contingencies occur, in which case the notes will

be issued
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in definitive form. Investors may elect to hold interests in the
notes through DTC, Euroclear Bank S.A./N.V. ("Euroclear") or
Clearstream Banking Luxembourg, sociéte anonyme
("Clearstream Banking Luxembourg"), if they are participants
in such systems, or indirectly through organizations that are
participants in such systems. See "Global Clearance and

Settlement."



Payment of Principal and Interest
Principal and interest on the notes will be payable in U.S.
dollars or other legal tender of the United States of America. As
long as the notes are in the form of a book-entry security,
payments of principal and interest to investors shall be made
through the facilities of the DTC. See "Description of the Notes
-- Payments of Principal and Interest" and "Global Clearance
and Settlement -- Ownership of Notes through DTC, Euroclear

and Clearstream Banking Luxembourg."



Default
The notes will contain events of default, the occurrence of
which may result in the acceleration of our obligations under the
notes prior to maturity. See "Debt Securities -- Default;

Acceleration of Maturity" in the accompanying prospectus.



Sinking Fund

None.



Prescription Period

None.



Use of Proceeds
We will use the net proceeds of the sale of the notes for general
financing purposes, which may include the repayment of debt.
The amount of net proceeds (before expenses and exclusive of

accrued but unpaid interest) is $778,252,500.



Fiscal Agent
The notes will be issued pursuant to a fiscal agency agreement,
dated as of December 15, 1998, between us and JPMorgan
Chase Bank, as fiscal agent, paying agent, transfer agent and

registrar.



Taxation
For a discussion of United States and Turkish tax consequences
associated with the notes, see "Taxation" in this prospectus
supplement. Investors should consult their own tax advisors in
determining the foreign, U.S. federal, state, local and any other
tax consequences to them of the purchase, ownership and

disposition of the notes.
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Governing Law
The notes will be governed by the laws of the State of New
York, except with respect to the authorization and execution of
the notes, which will be governed by the laws of the Republic of

Turkey.
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