Turkey
-
Turkey’s sovereign curve widened between 5bp-10bp on Thursday after Turkey’s prime minister Ahmet Davutoglu agreed to step down, though bankers said the asset class was holding up versus equities, at least. -
Turkey’s sovereign curve widened between 5bp–10bp on Thursday after expectations that Turkey’s prime minister Ahmet Davutoglu will step down, though bankers said the asset class was holding up versus equities at least.
-
Turkish bank Yapi ve Kredi Bankasi has refinanced the 367 day credit facility it signed in April last year, maintaining the size of the lender group.
-
Turkey’s Garanti Bank has increased the amount of dollar commitments in its latest loan refinancing versus the expiring deal, bucking the recent trend or the country’s banks.
-
-
Turkey this week chose to take its second chunk of funding this year via a tap to double the $1.5bn it raised with a 10 year in March.
-
Vakifbank’s debut euro Turkish covered bond is good for investors, good for emerging markets borrowers and good for the global economy. But the deal would probably never have happened without the intervention of the European Central Bank.
-
Türkiye Vakiflar Bankasi, or VakifBank, this week issued the first publicly syndicated Turkish covered bond, sending a powerful message to other Turkish banks and emerging market issuers that the investor base is wide open and eager for more EM names.
-
Black Sea Trade and Development (BSTDB) made it two dollar debuts in emerging market bonds on Thursday today, joining fellow first timer Banque Ouest Africaine de Developpement with a five year deal.
-
Turkey chose on Thursday to take its second chunk of funding this year via a tap after raising $1.5bn with a 10 year in March.
-
Periphery bank capital is back on the menu for investors this week, leaving FIG bankers feeling they can bring virtually any product to market for the first time since early January. And thanks to Vakifbank, that now includes Turkish covered bonds.
-
Vakifbank’s euro Turkish covered bond is good for investors, good for emerging markets borrowers and good for the global economy. But the deal would probably never of happened without the intervention of the European Central Bank.
