Turkey prints tight but sell-off ruins re-opening effect
The Republic of Turkey cast off any concerns about its access to the capital markets at a tight price on Wednesday when it printed $2.5bn of 2024s with only a 5bp new issue premium, according to a lead manager on the trade. But fears crept back in when the bond lost 1.25 points in the secondary market as the lira weakened further.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts