Turkey

Standard Chartered Bank has hired a DCM banker from Commerzbank to cover Turkish clients.

Albaraka Turk, Turkey’s first participation, or Islamic, bank, has signed a $101m murabaha loan with seven banks.

Turkish biscuit maker Ülker’s second loan of the year is expected to be increased from its launch amount of $350m as demand for the facility comes in.

Akbank AG, the Turkish bank’s German subsidiary, has signed a €173.5m syndicated loan with around 14 banks, according to a banker on the deal.

Two banks are co-leading Türkiye Garanti Bankasi’s second loan of the year, which will be used to refinance a $1.2bn facility due to mature this month.

Türkiye Garanti Bankasi has launched its second loan of the year as it refinances a $1.2bn facility due to mature this month.

Books for Credit Europe Bank’s $150m tier two bond were at $375m on Thursday afternoon as the bank set the launch price for the deal at 7.25% yield.

Books for Credit Europe Bank’s $150m tier two bond are at $375m as the bank sets the launch price for the deal at 7.25% yield.

Turkish biscuit maker Ülker has launched its second syndicated loan of the year for $350m, having been the first Turkish company to come to the market this year, in April.

Fibabanka has shelved plans for an inaugural senior dollar bond despite signs of a recovery in Turkish bank paper.

Credit Europe Bank NV (CEB) announced on Thursday that it was mandating banks for a dollar deal, calling an outstanding bond, and spinning off its Russian subsidiary.

Turkish Fibabanka is heading off on a roadshow on Wednesday to market a five year dollar denominated bond. But with Turkish bank levels still elevated after local press reports that some Turkish lenders could be fined billions of dollars by the US for violating sanctions on Iran, the bank and its leads are hoping for a rally before pricing.