Turkey leaps on optimism with last ditch dollar deal

By Mariam Meskin
24 Nov 2020

Less than a week after Turkey made a long desired increase in interest rates hike, the sovereign has returned to the bond market for a last gasp bond deal before the market starts to run down for the year. The situation is giving market insiders confidence that Turkey is returning to orthodox policy making.

Turkey, as many market participants hoped, has mandated banks to arrange a dollar bond before year-end. Goldman Sachs, HSBC and Morgan Stanley will be bookrunners on the deal expected to mature in 2031.

“This deal did not come as a surprise to investors,” said Edwin Gutierrez, portfolio manager ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial