Turkey issues asset-backed securities worth 3.2 bln liras
The security had a five-year maturity and a fixed-coupon payment of three months, the ministry said, adding that 118 investors had submitted bids in the issuance.
The investors included banks, pension funds, investment institutions, and insurance companies, according to the statement.
The deal was 2.43 times oversubscribed, the statement added.
This was the largest asset-backed security issuance ever by Turkey, the ministry also said.
The assed-backed securities are rated “AAA,” the highest investment grade, by Japanese ratings agency, according to the statement.