Buying frenzy as Coca-Cola Icecek lands super tight trade
If there was any doubt that EM investors have plenty of cash to put to work, Turkey’s Coca-Cola Icecek (CCI) laid it to rest this week with a $500m deal that tightened 40bp from price talk and then rallied 20bp in the secondary market.
A perfect combination of good credit fundamentals, branding and rarity of corporate supply enabled the largest bottling firm in Turkey to print well inside both the Turkish sovereign curve and its own pricing range on Tuesday.
Leads BNP Paribas
, JP Morgan
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.