Turkey
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The Republic of Turkey has launched its largest 30 year bond since 2010, as investors shrugged off the recent constitutional referendum and dived in to catch the sharp rally in the country's spreads. -
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An inaugural deal from second tier Turkish lender Fibabanka on Wednesday offered further proof that concerns over the country’s political direction have failed to dampen investor confidence in its banks.
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The Republic of Turkey is out with guidance for a new 30 year note, in a move that rival bankers have said is “perfectly timed". The sovereign is on track to complete all of its planned funding for the year in the first five months.
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Telia, the Nordic telecoms group, came to market on Wednesday night with a large block trade in Turkcell, the Turkish firm in which it owned 38% directly and indirectly.
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Fibabanka emerged with pricing on Wednesday for the first Turkish tier two bond since last month’s constitutional reform referendum.
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Global Ports Holding, the independent cruise port operator, has set the price range for its IPO on the London Stock Exchange.
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Yapi ve Kredi Bankasi said it plans to press ahead with its debut euro covered bond, and after getting regulatory approval Turkiye Is Bankasi (Isbank) has had its programme rated by Moody’s.
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As many look on in horror at Turkey’s slide towards autocracy, investors are showing few qualms by piling into the country’s debt. State-owned Ziraat Bank was able to cut through political noise to print with no new issue premium this week. But lower rated banks are lining up to test just how far this demand extends down the ratings scale.
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Turkiye Is Bankasi (Isbank) has had its mortgage covered bond programme signed off with the Turkish regulator and this week had the programme rated by Moody’s.
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Turkey’s Ziraat Bank cut through questions about its ownership within Turkey's new sovereign wealth fund to print $600m at no extra cost on Tuesday.
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Yapi ve Kredi Bankasi looks set to take advantage of the bullish mood that has followed Turkey’s recent referendum and plans to issue its debut euro covered bond and what will be the second ever mortgage covered bond from Turkey.
