
Turkey


Turkish state-owned bank lending spree to stave-off COVID-19 crash
Still reeling from the aftermath of the currency crisis in Summer 2018, Turkish corporates are poorly positioned to weather a fresh storm caused by the coronavirus pandemic, according to market participants polled by Debtwire.
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Ansaldo Energia RCF offered in the mid 20s as timeline to strike A&E agreement tightens, Turkey guarantees weigh on liquidity
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Turkey's Energy Fund falters as operational turnaround urgency grows
With few signs that a financial fix for Turkey’s debt-laden energy sector – proposed by the government earlier this year – is any closer to materialising, concern is mounting that not enough is being done to achieve an urgently needed operational turnaround in the industry, several market participants told Debtwire.
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Turkey’s new law for debt restructuring welcomed, but not a gamechanger
An omnibus bill entered into force in Turkey last week, introducing long-awaited additional provisions to the country's Banking Law aimed at solving a number of technical and practical hurdles to debt restructurings.
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More than USD 17bn in Turkish restructuring and stressed refinancing transactions completed since 2018
Debtwire, the leading provider of news, data and analysis on debt markets worldwide, has calculated that more than USD 17bn worth of major restructuring and stressed refinancing transactions have been completed in Turkey since early 2018.
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Third Bosphorus Bridge project finance loan expected to swap hands again
A block of Istanbul’s Third Bosphorus Bridge project loan is set to swap hands, as local lender Turkiye Garanti Bankasi (Garanti) is selling a portion of its exposure to another Turkey-based bank, said two sources familiar with the situation.
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Turkish 2019 bond issuance already double 1Q18 volume; Citi takes top Turkish bookrunner title
Turkish Eurobond issuance volume year-to-date (YTD) is already double that in 1Q18, following a deluge of Anatolian deals in March, according to a Debtwire analysis. Some USD 9.4bn worth of US dollar- and euro-denominated bonds have been issued so far this year, compared to USD 4.7bn in 1Q18.
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Report launch: Themes to watch in European restructuring in 2018
Debtwire launched the 14th edition of the European Distressed Debt Market Outlook today (14 February), produced in association with Greenhill and Orrick.
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