Turkish participation bank Turkiye Finans left something on the table to get a US$500m 5.375% five-year sukuk issue away as Turkish FIG issuance begins to pick up after a four-month hiatus.
Garanti Bank (Baa2/BBB from Fitch) last week became the first non-sovereign issuer from Turkey to tap international capital markets in 2014, pricing a US$750m 5.5-year note offering and demonstrating that the market is wide open for Turkish FIG issuers.
Gulf Keystone Petroleum managed to get a US$250m 13% three-year bond away despite cashflow concerns by providing various safeguards and structuring it more like an equity-linked transaction.
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