Arcelik euro bond opens door for elite sub-IG EM corporates

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Arcelik euro bond opens door for elite sub-IG EM corporates

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White goods company Arcelik priced the first ever sub-investment grade emerging market euro deal with no high yield covenants on Wednesday. While bankers claim the deal paves the way for more Turkish corporate deals with no covenants, they admit that only an elite group will be able to follow.

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