Turkey
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Timing on Denizbank and Isbank syndication launches clearer as Turkish bank loan refi season continues apace -
OCP and Sisecam dual tranche dollar deals fly, Kuwait International Bank sells AT1
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TBC Bank guides for AT1, Ziraat mandates for T2
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Deals are expected to go well, as investors have requested more of the paper
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Some of Turkey's top quality issuers are companies with strong followings but issuance has been sluggish
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One syndicate official off the deal expected at least 50bp of tightening
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Geopolitics and high supply forces higher new issue premium
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'Sensible' concession offered given waning enthusiasm
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Iran's attack on Israel at the weekend did not cause a market panic
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Turkey’s ‘best in class’ corporate issuers to act as comparables
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Turkey's bond prices did not move much after Erdoğan's party met with defeats
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Modest demand for AT1 in primary amid big recent supply and caution around elections
