Turkey places 10 year sukuk within a whisper of conventional curve
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Emerging MarketsCEE

Turkey places 10 year sukuk within a whisper of conventional curve

The Republic of Turkey raised $1bn with a 10 year sukuk on Tuesday, closing the gap between its conventional and Islamic funding costs to just a handful of basis points. Despite some disagreement over just how close the issuer got to conventional levels, the tight pricing provides ammunition for debt bankers trying to tempt other sovereigns into the Islamic market.

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