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Emerging Markets

Turkey exploits IG appeal for euro pricing landmark


Turkey jolted its euro curve tighter with a pricing achievement unheard of in recent months in emerging markets. The sovereign, which printed on Wednesday a euro benchmark with what leads said was a 5bp negative new issue premium, showed both how attractive euro markets are to CEEMEA borrowers and what a difference investment grade ratings can make to core European investors, writes Francesca Young.

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