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Emerging MarketsEM Middle East

Turkey nine year tightens despite tight pricing

Istanbul px230 for global capital

Turkey priced a €1bn 12 year euro transaction almost flat to its secondary curve this week, although there was some disagreement about where the borrowers outstanding euro bonds were trading before the new launch. But bankers on the bond argued that a slim concession, strong oversubscription and an impressively granular book had made the deal a clear success.

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