Page 33 - TURKRptNov20

Oct 13, 2020
TWF
Investor meetings
2
CANCELLED
eurobond
Aug 31, 2020
TSKB
SPK Application
0.75
-
eurobond
Jul 23, 2020
Yapi Kredi
Board mandate
€0.50
-
mortgage-backed
Jun 18, 2020
Mapa Insaat
SPK Approval
1
-
eurobond
Jun 4, 2020
Isbank
SPK Approval
€0.50
-
mortgage-backed
Mar 22, 2020
Garanti BBVA
SPK Approval
€0.75
-
mortgage-backed
Feb 26, 2020
Denizbank
Board decision
3
-
debt instrument
Feb 20, 2020
Yapi Kredi
Board mandate
7
-
debt instrument
Feb 20, 2020
Sasa
Mandated Lender
€0.15
-
covered
Feb 6, 2020
Garanti BBVA
SPK Approval
6
-
eurobond
Feb 6, 2020
Net Holding
SPK Approval
0.3
-
eurobond
Feb 5, 2020
Treasury
Bookbuilding
-
Feb 6, 2020
eurobond
Jan 29, 2020
Vakifbank
Bookbuilding
-
Jan 29, 2020
eurobond
Jan 23, 2020
Akbank
SPK Approval
2
Jul 8, 2020
debt instrument
Jan 23, 2020
Ziraat
SPK Approval
4
-
debt instrument
Dec 27, 2019
Isbank
SPK Application
5
Jan 16, 2020
Dec 16, 2019
Akbank
Board authorization
2
-
subordinated
Nov-2019
Istanbul Municipality
Treasury Application
0.5
-
Nov 8, 2019
Vakifbank
SPK Approval
€1
-
mortgage-backed
Oct 18, 2019
Turkish Airlines
Mandated Lenders
-
-
bond or ETTC
On October 6, the Turkish Treasury ​sold​$2.5bn worth of 5-year papers with a 6.375%​coupon while the spread over US Treasury papers was more than 600bp.
Turkey’s sovereign wealth fund, Turkey Wealth Fund (TVF), has cancelled​an auction for the sale of 5-year USD eurobonds ​due to higher-than-expected cost.
“Two EM bond issuers [TWF and Ukraine’s Naftogaz] beat hasty retreats from the primary market this week. But despite the challenges the pair faced, bankers and investors believe the market is open for borrowers looking to pick up a bit of funding ahead of what is expected to be a tortuous US election,” Global Capital r​eported​on October 22.
The TWF blamed hostile market conditions for its decision, according to the publication.
33​ TURKEY Country Report​ November 2020 ​ ​www.intellinews.com