Turkey

Vakifbank has received a $967m loan from 37 banks, marking yet another oversubscribed Turkish syndication following a period of heightened political uncertainty after a constitutional referendum.

Turkey’s Ziraat Bank was quick to take advantage of the recent rally in Turkish credit, opening books on a five year bond at 5.5% on Tuesday morning.

Turkish privately owned bank Fibabanka well test demand for riskier Turkish debt following the country's constitutional referendum on April 16, and has named two for its debut public transaction, a tier two Basel III deal of up to $300m.

Turkey’s debt markets always seem resilient to political shocks. But rose tinted views of president Recep Erdogan’s referendum victory this week ignore a worrying truth that its vast growth potential lies more than ever in the hands of one man able to squander it.

Turkey’s Isbank cut through post-referendum uncertainties to raise up to $750m with a seven year senior note on Thursday.

Jefferies is building out its CEEMEA trading operations, and eventually plans to add primary markets, derivatives and local currency trading to a revitalised business.

Bank ABC has successfully closed a $213m syndicated loan to Albaraka Türk Bank and launched another two new deals on Wednesday.

Turkey’s Isbank cut through post-referendum uncertainties on Thursday to bring a new senior bond but offered plenty of juice to get things started.

Global Yatırım Holdings, the Turkish investment group, has hired Barclays, Citigroup and Goldman Sachs to lead the $250m IPO of Global Ports Holding, the largest operator of cruise ports in the world, on the London Stock Exchange.

Theresa May stunned the UK on Tuesday by calling a snap general election, but equity capital markets remain calm and the next wave of IPOs is becoming more visible, with two more new deals announced this week.

Turkish bond prices were unmoved after the country's president, Recep Erdogan, scraped a narrow victory in Sunday’s constitutional referendum.

Turkish food manufacturer Ülker has closed a $375m loan from 12 banks, marking the first corporate deal since the attempted military coup last year.