The Republic of Turkey’s $1.5bn 6.625% 31 year bond, printed only a fortnight after the country’s fiscal problems were blamed in large part for dragging CEEMEA into turmoil, crossed the finish line with an awe-inspiring $6.25bn book. The huge success of the deal, which lead managers said was printed with only a 10bp new issue premium, prompted a rally across CEEMEA on Wednesday as it became clear that fears over Turkey’s capital markets access have been overblown.
Francesca Young,
February 13, 2014
Sumitomo Mitsui Financial Group opened the books on Wednesday for the second US dollar Basel III tier two offering from a Japanese bank.
