Turkey’s Pegasus to test waters with Eurobond
Pegasus Airlines was seeking on Monday to issue a Eurobond in dollars. The deal will demonstrate market appetite for Turkish credit after the country navigated another economically tumultuous month, which saw investor confidence drop.
The airline, rated —/B/BB-, was after a Reg S/144A senior unsecured benchmark bond with a maturity of either 3.5 years or a five year non-call three year structure.
Bank of America and Goldman Sachs were leading the trade as global coordinators and bookrunners.
Investor calls will start on Monday.The bond will ...