Strong demand for bonds in global markets proves confidence in Turkey: Minister

Strong demand for bonds in global markets proves confidence in Turkey: Minister

ANKARA – Anadolu Agency
Strong demand for bonds in global markets proves confidence in Turkey: Minister

International market demand for Turkish bonds was more than triple the bonds’ issue size, proving the confidence in Turkey’s economic indicators, Treasury and Finance Minister Berat Albayrak said on Oct. 17.

The strong demand confirms the robustness of Turkey’s economic basis, resilience to external shocks, and success of measures taken to date, Albayrak was cited as saying in a statement from his ministry.

According to the Treasury and Finance Ministry’s statement, “the [bond] offering attracted an order book of more than three times the actual issue size from more than 250 accounts.”

The ministry on Oct. 16 authorized three international institutions — Deutsche Bank, Goldman Sachs, Societe Generale — to issue a dollar-denominated bond due 2023, as part of the 2018 external borrowing program.

The transaction was finalized with a nominal amount of $2 billion, it said.

“With this transaction, the amount of funds that has been raised from the international capital markets as part of the $6.5 billion 2018 Eurobond issuance program has reached $6 billion,” said the ministry.

Turkish economy, Treasury and Finance Ministry, bonds, Berat Albayrak