Turkey

Ülker, a Turkish food manufacturer, has sent out a request for proposals for a $200m syndicated loan, making it the first corporate borrower from the country to enter the market this year, according to a banker on the deal.

Halkbank's planned Eurobond issuance is on hold after Mehmet Hakan Atilla, its deputy CEO, was detained following a roadshow in the US on charges of breaching sanctions against Iran, an investor relations person at the bank told GlobalCapital on Wednesday.

Another Turkish refinancing is underway, with Ziraat Bank’s syndication due to close this week, according to a banker on the deal.

Strong fund inflows and narrowing new issue premiums brought another round of CEEMEA borrowers out of the woodwork this week as some investors sounded the alarm over market exuberance.

Turkiye Sinai Kalkinma Bankasi (TSKB) brought new flavour to the SRI bond market this week with the first ever sustainable subordinated tier two, but the deal fell short of being a major milestone as many investors who follow green bonds are not able to buy such paper. Virginia Furness reports.

The heightened prices Turkey's banks are having to pay to refinance loans has attracted more banks to the latest syndication, a €100m deal for Isbank AG.

Turkey will meet investors in the UAE next week ahead of a potential return to the dollar sukuk market, leads announced on Thursday.

Akbank closed a loan syndication on Wednesday with eight more banks joining the deal, taking the number involved to 38 and the refinancing to more than $1bn.

Turkey’s Turkiye Sinai Kalkinma Bankasi (TSKB) printed the first ever Basel III compliant sustainable tier two on Tuesday.

Halkbank became the latest Turkish bank to throw its hat into the tier two ring on Wednesday, announcing plans for a three day roadshow in the US and UK.

While global equities appear to be tanking, emerging market bonds are once again on fire with inflows supporting propping up what seems a never ending bid, but as ever, idiosyncratic risks are playing a bum note on some deals.

Turkey’s Turkiye Sinai Kalkinma Bankasi (TSKB) made a second pioneering move into the sustainable bond market with the world’s first sustainable tier two bond on Tuesday, following on from a senior green bond last year.