Akbank out for dollars in 'opportunistic' trade
Akbank, the top tier Turkish bank, approached investors for a dollar benchmark bond on Tuesday. The deal comes amid expectations that emerging market investors have finally opened up for corporate and financial institution issuance.
The RegS/144A senior unsecured long five year bond achieved initial price thoughts of low 7% area on Tuesday morning. Books are expected to close on Tuesday afternoon.
According to one banker, the final deal is not expected to exceed benchmark size.Bank of America, Citi, Emirates NBD, Industrial and Commercial ...