VakifBank set for strong demand with first sustainable bond

By Mariam Meskin
01 Dec 2020

Top tier Turkish lender VakifBank was in the market on Tuesday for its debut sustainable dollar bond, which market participants say is likely to gain strong demand from a wide investor base.

The five year January 2026 Reg S/144A dollar sustainable benchmark was marketed with initial price thoughts of 7% on Tuesday morning.

That was tightened to price guidance of 6.750-6.875% by the afternoon with books in excess of $1.6bn excluding joint lead manager interest.

The deal is expected to close later ...

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