Turkey
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Turkey’s Halkbank signed a $705m-equivalent annual loan refinancing on Monday morning after issuing a benchmark bond last week to strong demand. -
Turkey's state-owned Halkbank on Thursday printed the first CEEMEA bond since the UK's Brexit vote threw EM into a brief bout of chaos last week and in defiance of terror attacks in Istanbul.
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In Turkey a series of explosions at Istanbul’s Atatürk international airport on Tuesday left at least 41 people dead and many more injured. But the market response has been muted.
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Turkiye Sinai Kalkinma Bankasi (TSKB) signed its annual 367 day loan refinancing on Tuesday, raising slightly more euros and slightly fewer dollars than last year.
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ING Bank Turkey has signed a 367 day loan facility with a group of 26 lenders, joining Turk Eximbank and TSKB in issuing loans.
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Emerging market bond bankers are already looking beyond Brexit as super-tight spreads in central and eastern Europe, caused by a Remain-led rally, make issuance levels look attractive.
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Emerging market credit has ridden the uncertainties of the UK’s European referendum this week and made considerable gains on Monday and Tuesday as support for Remain edged ahead in polls.
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Covered bonds, green bonds, tier twos and senior — Turkish issuers have turned this year of lower funding needs into a meze platter of unusual and groundbreaking bonds. Francesca Young reports.
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Akbank has outlined plans to broaden the reach of Turkish banks among Asian lenders beyond Japan and improve awareness of longer tenors, as it returns to the loan market for the second time this year.
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Turkish banks are looking to mortgage-backed covered bonds to close asset and liability mismatches and reduce borrowing costs. In the next few years, the asset class will become a cornerstone of their funding plans.
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Akbank is returning to the loan market for the second time this year, lining up one and three year tranches in euros and dollars.
