NIP slip as Turkish duo brave bond market
Two Turkish financial institutions, Isbank and TSKB, braved the market this week with new issue premiums that edged lower than recent comparable deals, showing how the market has stabilised since Yapi Kredi printed its bond on October 15.
“Yapi Kredi paid around a 25bp new issue premium, TSKB 12.5bp and Isbank 10bp, so the premium is coming down as the market stabilises and transactions can tighten more,” said Spencer Maclean, head of syndicate west at Standard Chartered in London, the bank on all three Turkish deals.
“A ...Already a subscriber? Login
Further Reading
-
IPOs
European ECM suffers as US sell-off continues
-
Africa
'Everything else is secondary' to debt transparency as Zambia-IMF talks extended
-
Market News
China policy and markets round-up: CBIRC chief warns against inflow risks, issuers move to exchange market for carbon neutrality bonds
-
Regulation & Policy
Two Sessions special: China takes cautious approach to 2021 GDP growth, cuts budget deficit target and local government bond quota