Sekerbank issues second of three tranche covered bond
The European Bank for Reconstruction and Development and the European Investment Bank have bought the second of a three tranche SME-backed covered bond from Turkey’s Sekerbank via sole lead arranger UniCredit.
In this latest financing exercise, which supports the continued flow of credit to Turkish SMEs, the EBRD bought 24m and EIB 49m equivalent of three-year Turkish lira covered bonds.
The pricing was not disclosed, but the borrower confirmed that funding was at similar levels to the first tranche issued
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