Yapi Kredi bond opens Turkish primary market
Turkish private bank Yapi ve Kredi Bankasi on Wednesday issued a $500m senior unsecured bond. The deal was the first private bank trade out of Turkey and European emerging markets this year and opens up the possibility that more Turkish bank issuance will follow.
JP Morgan, Standard Chartered and Yapi Kredis co-owner UniCredit were bookrunners on the deal.
"This deal successfully re-opened the market for private bank deals out of Turkey and emerging Europe this year," said Stefan Weiler, executive director at JP Morgan in London. "In fact, Yapis transaction marks the first
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