Buy-backs pitched to troubled Turkish banks

EM bond investors are watching Turkish banks closely, as some of the banks have heavy maturities falling due in the next year and capital ratios are being battered by the huge drop in the lira. But DCM bankers are telling these issuers that the lower levels may mean there are opportunities for buy-backs.

  • By Francesca Young
  • 15 Aug 2018
“The Turkish banks largely have capital in Turkish lira and large FX assets,” said one investor in London. “So their capital ratios are taking a big hit. We're getting more and more worried that some of the subordinated debt instruments out there are going to be subject to ...

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1 Citi 48,659.74 233 9.39%
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4 Standard Chartered Bank 29,557.78 211 5.70%
5 Deutsche Bank 25,094.41 98 4.84%

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4 Deutsche Bank 6,487.13 9 8.63%
5 Bank of America Merrill Lynch 4,573.34 21 6.08%

Bookrunners of CEEMEA International Bonds

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5 HSBC 12,653.58 57 7.57%

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5 Citi 95.36 35 5.16%

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2 ING 3,270.62 26 9.15%
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5 MUFG 1,979.59 10 5.54%

Bookrunners of India DCM

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4 AK Capital Services Ltd 1,915.50 83 7.07%
5 ICICI Bank 1,863.14 64 6.87%