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Turkey to reopen March 2027s for expected $1bn bond- lead

By Sudip Roy

LONDON, Feb 16 (IFR) - The Republic of Turkey is reopening its March 2027 bond for an expected US$1bn, according to leads.

The bond is being marketed at an initial yield of 5.85% area.

The notes, which carry a 6% coupon, were originally priced on January 18 for US$2bn at a yield of 6.15%.

BNP Paribas, JP Morgan and MUFG are the lead managers on the tap, which is today's business.

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Turkey is rated Ba1 by Moody's and BBB- by Fitch.

(Reporting by Sudip Roy, Editing by Helene Durand) ((sudip.roy@thomsonreuters.com; +44 20 7542 4617; Reuters Messaging: sudip.roy.thomsonreuters.com@reuters.net))
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