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Turk Telkom plans to price new dollar note; new Uzbekistan notes slip; new Turkey sukuk
By Rebecca Melvin
New York, Feb. 14 – Just as this week’s calendar of new issues for the Central & Eastern Europe region cleared on Thursday, another emerging market announcement hit the tape. The four new issues that already priced met with mixed market receptions.
Turk Telekomunikasyon AS announced that it plans to sell a U.S. dollar-denominated note under Rule 144A and Regulation S.
Elsewhere, Uzbekistan’s newly priced global bonds traded down in the early market Thursday after $1 billion of the notes priced at par in two tranches due 2024 and 2029.
The Republic of Turkey’s new $2 billion three-year Islamic bond, or sukuk, went “very, very well,” the London source said, noting that the order book for the deal –Turkey’s third benchmark-sized global bond issue for the year to date –topped $5 billion and the new issue premium was just 10 bps.
Meanwhile, Latvia’s newly priced 1 7/8% 30-year notes traded up slightly to 99 after that issue priced at 98.77, and the recently priced Credit Bank of Moscow paper was wrapped around reoffer on Thursday.
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