Turkey
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Vakifbank has launched its second round of refinancing with its pricing 10bp lower than its $967m facility in April, mirroring Akbank’s new loan margins. -
Akbank has sold its first mortgage-backed covered bond. The deal, which will fund green projects, was privately placed with the European Investment Bank.
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Türk Eximbank’s second entry into the syndicated loan market this year has been a success, with 23 banks signing for $640m on Tuesday — more than double the initial size when the deal was launched in June.
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Pricing on Akbank’s one year loan refinancing dipped by 10bp as political turmoil in Turkey appears to have died down since president Recep Erdoğan won a referendum to consolidate power in April.
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United Biscuits, the maker of McVitie’s biscuits and Jacob's crackers, is to sign a £725m syndicated loan facility in the coming weeks to refinance a loan taken out in 2015 to fund its acquisition by Turkey’s Yıldız Holding.
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Turkey’s Coca-Cola İçecek (CCI) is set to offer investors a rare chance to buy Turkish corporate debt, and has announced its intention to raise up to $1bn from the bond markets within the next year.
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Turkey’s smaller financial institutions – Yapi Kredi Finansal Kiralama, the leasing arm of Yapi Kredi, and Alternatif Bank (Abank) – have come to the loan market with higher pricing than their bigger bank counterparts.
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Odeabank took advantage of limited supply in the emerging market space to price a well-received Eurobond debut on Monday.
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State-owned Türk Eximbank has signed a $200m three year loan facility with the China Development Bank.
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Odeabank took advantage of limited supply in emerging market bonds to price a well-received Eurobond debut on Monday.
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Türkiye Halk Bankasi (Halkbank), the Turkish state-owned lender, has confirmed that it plans to issue mortgage-backed covered bonds. It joins seven Turkish lenders that have rated covered bond programmes in place.
