Turkey
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Bookrunners were unsure how much demand there would be given the drought in Turkish bank issuance -
Turkish state owned banks are not under government pressure to issue in dollars, said bankers
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The state-owned export bank drew a book over $1.75bn in a now rare non-sovereign deal from Turkey
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Turkey's economic woes have subdued its IPO market for years
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The new issue premium on offer was considerably smaller the last new bond issued by the sovereign
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Turkey has benefited from support from official investors in the Middle East
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A $1bn anchor order from an official institution bolstered Turkey's order book
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Turkish equity capital markets have been barren for years as the economy nosedived
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The borrower showed once more that it can come up trumps in the bond market when dealt a difficult hand
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Like its Turkish peers, DenizBank has signed for a smaller loan at a much higher price
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Observers praised the embattled issuer’s experience in picking the right moment to print
