There is nothing like ending the year on a high. The last few weeks of 2023 have seen buzzing interest in the Republic of Türkiye from international investors – a very different dynamic to what was entrenched as recently as six months ago. Then, most international investors were steering clear of any investment in the inflation-ridden market.
In response, Turkish borrowers across sovereign supranational and agency (SSA), financial institutions (FIG) and corporate markets have rushed to issue and have been met by oversubscribed demand and vastly improved pricing.
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