Turkey

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.

Turkish bank refinancing activity has ramped up, with Ziraat Bank signing its $1bn syndicated loan on Monday after Yapi Kredi sent out a request for proposals (RFP) at the end of last week.

Turkey’s six year sovereign sukuk was priced flat to its conventional curve for the first time following the asset class’s inclusion in the JP Morgan indices, even as the country’s president Recep Tayyip Erdoğan’s bid to consolidate power is an increasingly dominant talking point.

Halkbank has hit back against claims of any wrongdoing following the arrest of its deputy CEO Mehmet Hakan Atilla, while on an investor roadshow on Monday. The bank denies any involvement in breach of US sanctions but its planned tier two bond remains on hold as the market awaits further clarity, writes Virginia Furness.

Turkey’s six year sovereign sukuk is expected to be priced flat, or even inside, its conventional curve for the first time following the asset class's inclusion in the JP Morgan indices, even as the country's president Recep Tayyip Erdoğan’s bid to consolidate power grabs the headlines.