Iran oil links leave question mark over Turkey’s Tupras
Turkish oil refiner Tüpraş will start roadshowing a 10 year dollar bond on Friday, but the issuer’s links to Iran are expected to raise questions on the roadshow.
Tüpraş sourced 40% of its oil from Iran in 2016, up from 25% a year earlier, according to one EM syndicate banker away from the deal.
With sanctions against Iran still a “cloudy area”, the banker said he expected that the issuer’s Iran links would have a bearing
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