Istanbul-based Unlu & Co has announced plans to launch a broker-dealer operation in London in a bid to create a broader international market for Turkish corporate debt.
Mahmut Unlu, the firm’s founder and chairman, says the events of this year – which include the collapse of the lira in August and the first signs of economic contraction in the third quarter – have left Turkish companies in need of new sources of funding.
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Mahmut Unlu, |
“Lending markets have tightened in Turkey and interest rates are high, which is a problem for corporates as most have very limited access to international creditors,” he says.
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