Turkey

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.

Fibabanka emerged with pricing on Wednesday for the first Turkish tier two bond since last month’s constitutional reform referendum.

Global Ports Holding, the independent cruise port operator, has set the price range for its IPO on the London Stock Exchange.

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.

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.

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.

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.

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.

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.