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.
A block of Istanbul’sThird 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.
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.
Debtwire launched the 14th edition of the European Distressed Debt Market Outlook today (14 February), produced in association with Greenhill and Orrick.
