Turkey
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Turkey ignored softness in the market to double the size of its 30 year dollar bonds on Wednesday, after reopening its May 2047s for a further $1.75bn. -
US prosecutors have widened the net in their case against Turkey’s Halkbank after bringing new charges against the country’s former economy minister and the bank's former general manager for breaking Iranian sanctions, sending Halkbank assets lower but not hitting the rest of the country’s banking sector.
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United Biscuits’ £725m ($948.23m) loan is being split into two term loans and a revolving credit facility with pricing linked to the company’s leverage, according to a banker on the deal.
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Albaraka Turk, Turkey’s first participation, or Islamic, bank, kicked off the syndication of a $100m murabaha facility on Tuesday.
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The dry spell is over for investors in emerging market debt with several mandates hitting the screens on Tuesday. The first trades will be eagerly watched as a barometer for new issue premiums after a summer that has seen escalating geopolitical tensions and further questions about the direction of travel of both the European Central Bank and the US Federal Reserve.
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United Biscuits, the maker of McVitie’s biscuits and Jacob's Crackers, signed a £725m syndicated loan on Thursday with 21 banks.
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South African lenders, Investec and Standard Bank’s loans are due to sign this week, along with United Biscuits' acquisition loan, which is expected to close tomorrow.
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Kuwait’s Burgan Bank’s Turkish branch, Burgan Bank AS, signed a dual tranche facility of around $205m from 14 banks, at slightly higher pricing than its top tier compatriots.
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Akbank, one of Turkey’s largest banks, has secured another $1.2bn facility for this year with the same number of banks as its facility in March but with new Asian lenders on board and tighter pricing.
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Akbank, one of Turkey’s largest banks, has secured another $1.2bn facility for this year in its second round of refinancing, proving the credit is still an attractive prospect for the market.
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HSBC has restructured its global banking Middle East, North Africa and Turkey arm under Matthew Wallace, head of global banking MENAT, according to an internal memo seen by GlobalCapital.
