Turkey guides benchmark three-year sukuk to yield 5.9% area

By Rebecca Melvin

New York, Feb. 13 – The Republic of Turkey guided pricing for its planned three-year Islamic bond, or sukuk, benchmark to the 5.9% area, according to a market source on Wednesday.

Order books at the time of guidance was for more than $3.5 billion of notes.

Citigroup, KFH Capital and Standard Chartered Bank are bookrunners for the Rule 144A and Regulation S offering.

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