Turkey

Turkiye Sinai Kalkinma Bankasi batted away suggestions on Tuesday that its deal would suffer from pricing on the same day as the Turkish sovereign, printing a $350m five year bond from a book of $1.15bn and 15bp inside initial price guidance.

The Turkish sovereign has mandated three banks for its usual start of year dollar bond while Turkiye Sinai Kalkinma Bankasi released guidance for its note. But the latter drew criticism for going head to head with its sovereign.

The equity block trades market in EMEA opened the week on Monday night with a TL496m ($132m) sale of stock in Mavi Jeans, the Turkish jeans maker that floated in Istanbul last year. The trade was covered inside an hour.

MLP Sağlık Hizmetler, also known as MLP Care, the largest private healthcare provider in Turkey, has begun investor education for its flotation on Borsa Istanbul, in which it hopes to raise about TL500m ($133m) of primary proceeds.

Two corporate issuers are making early moves into the capital markets this year without waiting for sovereign issuers to establish benchmarks, showing the strength of funding conditions in emerging market debt, said bankers.

Petkim Petrokimya Holdings, the largest petrochemical company in Turkey, has received approvals to issue an international bond of up to $500m.

The poll is open for GlobalCapital’s Equity Capital Markets Awards for 2017 and we invite market participants to have their say on the best performers of last year.

Equity syndicates expect a robust IPO pipeline to power strong issuance in the first half of this year, which could set 2018 up to surpass what was a good 2017.

Is Financal Kiralama (Is Leasing), Isbank’s leasing arm, is expected to sign a $75m loan which it has mandated Bank ABC to arrange.

Ak Finansal Kiralama (Aklease), Akbank’s leasing subsidiary, has signed a $110m syndicated loan to fund renewable energy projects.

Turkey’s Fibabanka has signed a $167m loan, bringing its refinancings for the year to an end.

SMBC Nikko has hired a new head of emerging markets credit trading as it looks to build out its fixed income offering.