Turkey
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Turk Eximbank (Turkiye Ihracat Kredi Bankasi) has released initial price thoughts for the first Turkish bond of the year at 425bp area over mid-swaps. -
The Turkish loan market is open for business in 2016 as Turk Eximbank and Akbank launch loan refinancings.
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Turkish commercial bank Akbank has launched the first of its two annual loan refinancings, leading the way for other Turkish banks to follow.
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Many loans bankers focused on Central and Eastern Europe have pinned their hopes on Turkey as a source for deal flow this year, as Russia remains thwarted, but it will not bring the hidden treasures bankers expect.
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Turkey's banking regulator has increased the pressure on the country's banks to print new style subordinated bonds.
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Turk Telekom has secured a $150m equivalent 10 year loan from two banks and the Canadian export credit agency (EDC), after loans to the telecommunications sector stalled in 2015.
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DenizBank, the Turkish bank, is to conduct a second capital increase, only a few months after finishing its last one — but main shareholder Sberbank is expected to maintain its near-100% stake.
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Tradition and Intercontinental Exchange are both making advances in power and energy derivatives, after unveiling initiatives this week.
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Turkey’s Garanti Bank and Finansbank have signed one year loans, completing the second round of refinancings for Turkey’s large commercial banks.
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Turkish bank Yapi ve Kredi Bankasi has hired four banks to arrange a dollar tier two bond that it expects to issue in early 2016, using the December quiet spell to capture credit investors’ attention.
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Military tension with Turkey sent Russia’s credit default swap spread wider this week but Russia’s apparent rapprochement with the west has seen investors treat Russian bonds in a much brighter light.
