June 7, 2017 / 1:48 PM / a year ago

Turkey to raise €1bn through June 2025 bond at MS+285bp

LONDON, June 7 (IFR) - Turkey will raise €1bn through a June 2025 bond at a spread of 285bp over mid-swaps, according to a lead.

Demand was more than €2.5bn.

The spread is at the wide end of swaps plus 280bp-285bp guidance.

The notes were initially marketed at plus 295bp area.

The deal is today’s business via BNP Paribas, HSBC and UniCredit.

The sovereign is rated Ba1 (negative) by Moody’s and BB+ (stable) by Fitch. (Reporting by Sudip Roy, editing by Julian Baker)

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