NIP slip as Turkish duo brave bond market

By Francesca Young
23 Oct 2014

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 ...

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