BankPozitif sells first Turkish bank bond of 2009
BankPozitif, the Turkish institution majority owned by Israeli Bank Hapoalim, sold a $150m five year bond on Wednesday, the first Turkish bank to issue in more than 18 months.
The yield on the 7%, par-priced, Reg S deal equated to 464bp over Treasuries or 428bp over mid swaps. The bonds traded up to 100.625 bid price on Thursday.JPMorgan, Royal Bank of Scotland and Standard Bank led the deal. Banks took 64% of the issue, with retail investors ...
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