While second-tier and third-tier European banks struggle to access the international bond markets, one of Turkey’s leading lenders has shown the way ahead with a landmark deal.
Akbank became the first Turkish private sector company to issue a Eurobond last month, with a $1 billion, five-year transaction in the biggest ever non-sovereign deal out of the country. The 144a senior secured deal, which was lead managed by Bank of America Merrill Lynch, Citi, JPMorgan and Standard Chartered, proved that despite the uncertainty still plaguing the financial markets, investors are willing to support banks in countries perceived to be...
