Turkey taps 2041 for $1bn, prices at tight end of guidance

Turkey has tapped its $2bn 6% 2041 bonds for an extra $1bn. The deal came at 158bp over US Treasuries — at the tight end of 165bp area guidance and at just a 10bp premium to where the outstanding notes were trading on Wednesday.

  • 05 Dec 2012

Bank of America Merrill Lynch, HSBC and Royal Bank of Scotland arranged the tap. New paper from Turkey in December is rare but leads said the sovereign is one that can issue whenever it chooses.

“This is a good opportunistic trade,” said one lead. “The bonds had rallied quite ...

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5 Deutsche Bank 25,039.23 97 4.93%

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5 HSBC 12,613.66 56 7.56%

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