Turkey
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Jeffrey El Khoury joins the US bank from SocGen to replace James Sadler -
The funding, part of AIIB’s Covid-19 Crisis Recovery Facility, will boost the Turkish lender's support for small and medium enterprises hit by the pandemic
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Turkish bank's repo follows ESG-linked bond and loan
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Turkish renewable energy company Aydem Yenilenebilir Enerji launched its debut bond on Monday, a green dollar offering.
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Aydem Yenilenebilir Enerji, a Turkish renewable energy generation company, is seeking to sell a green bond in its debut international debt offering. It joins a string of Turkish corporates that have stepped into sustainable finance in the past few months to tap into a diverse investor base.
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Turkey was, yet again, at the fore of market participants’ minds on Tuesday. As inflation spikes, the country has indicated its intention to encourage more borrowing following a debt issuance spree in June.
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Turkey, Cameroon and Latvia all entered international bond markets on Wednesday. Investors said the sovereigns are rushing to secure funding while conditions are still positive, amid the anticipation of rate rises.
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Several FIG issuers across CEEMEA entered bond markets to raise cash this week. Meanwhile, the pipeline for bank issuance is strong as issuers take advantage of attractive market conditions to bolster reserves.
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Anadolu Efes, the Turkish brewer, returned to the market this week to issue a new bond and launch a tender for its dollar debt. Investors say it is one of the more attractive credits from the country, despite domestic economic volatility.
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More emerging market issuers will issue convertible bonds following landmark deals in Turkey and the United Arab Emirates in recent weeks. The asset class is seen as a way for EM companies to raise capital while avoiding rising interest rates and to showcase the increasing sophistication of their home exchanges. Aidan Gregory reports.
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ING Turkey, a subsidiary of the Dutch banking group, has signed an ESG-linked syndicated loan, making it the latest Turkish lender to embrace labelled debt, a trend that bankers insist is motivated by a commitment to sustainability and not simply an attempt to lower pricing.
