Turkey is reopening its March 2027 bond for an expected US$1bn, according to leads.
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.
Turkey is rated Ba1 by Moody's and BBB- by Fitch.
(Reporting by Sudip Roy, Editing by Helene Durand) ((email@example.com; +44 20 7542 4617; Reuters Messaging: firstname.lastname@example.org))