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Domestic bonds: Turkey, Bonds 2% 26oct2022, TRY
TRT261022T10

  • Placement amount
    10,354,877,998 TRY
  • Outstanding amount
    10,354,877,998 TRY
  • USD equivalent
    1,123,405,515.4382 USD
  • Denomination
    1 TRY
  • ISIN
    TRT261022T10
  • Common Code
    085399985
  • CFI
    DBVTFB
  • FIGI
    BBG003LT0P46
  • Ticker
    TURKGB 2 10/26/22 CPI

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Issue information

Profile
Turkey has the sixth largest local currency bond market among the emerging market countries. Its key instruments are corporate bonds, commercial paper and bank bills. The corporate bond market in Turkey amounted to only TL481 million ...
Turkey has the sixth largest local currency bond market among the emerging market countries. Its key instruments are corporate bonds, commercial paper and bank bills.

The corporate bond market in Turkey amounted to only TL481 million (US$340million) at the end of 2009, jumping up to TL1.4 billion5 (US$1.9 billion) in end 2010 and to TL4.3 billion in end 2011. This is still very small in comparison to other major emerging market countries.

Since the Turkish eurobond market opened in early 2011, banks and corporates are now allowed to issue eurobonds directly without having to pay withholding tax on interest payments under the bonds. This change in law, along with the favourable market conditions, has encouraged many Turkish issuers (predominantly banks) to come to market.

Strategic benchmarks in public debt are:
- To make borrowing mainly in TL;
- To use fixed rate TL instruments as the major source of domestic cash borrowing and decrease the share of debt which has interest rate refixing period less than 12 months;
- To increase the average maturity of domestic cash borrowing taking market conditions into consideration and decrease the share of debt maturing within 12 months;
  • Issuer
    Go to the issuer page
    Turkey
  • Full borrower / issuer name
    Ministry of Treasury and Finance of the Republic of Turkey
  • Sector
    sovereign
Volume
  • Placement amount
    10,354,877,998 TRY
  • Outstanding amount
    10,354,877,998 TRY
  • Outstanding face value amount
    10,354,877,998 TRY
  • USD equivalent
    1,123,405,515 USD
Nominal
  • Nominal
    1 TRY
  • Outstanding face value
    *** TRY
  • Integral multiple
    *** TRY

Cash flow parameters

  • Indexation
    Indexed to CPI
  • Reference rate
    ***
  • Coupon Rate
    ***
  • Day count fraction
    ***
  • Business Day Convention
    Following Business Day
  • Interest Accrual Date
    ***
  • Coupon frequency
    *** time(s) per year
  • Payment currency
    ***
  • Delay days
    *** days
  • Maturity date
    ***
  • Early redemption date
    ***

Early redemption terms

***

Auctions and additional placements

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Placement

  • Placement method
    Open subscription
  • Placement type
    Public
  • Order book
    *** (***) - *** (***)
  • Coupon (Yield) Guidance
    ***% - ***% (*** - ***%)
  • Issuer rating on issue date (M/S&P/F)
    *** / *** / ***
  • Placement
    *** - ***
  • Initial issue price (yield)
    (***%)
  • Bids
    *** TRY
  • Number of bids
    ***
  • Geographic breakdown
    ***
  • Investor breakdown
    ***
  • Listing
    ***

Conversion and exchange

  • Convertion date
    ***
  • Initial premium
    ***%
  • Convertible until
    ***
  • Lock-up
    *** days
  • Conversion terms
    ***

Additional information

***

Latest issues

Identifiers

  • Registration
    ***
  • Date of program registration
    ***
  • ISIN
    TRT261022T10
  • ISIN temporary/additional
    TRT261022T28
  • CUSIP
    ***
  • CUSIP 144A
    ***
  • Common Code
    085399985
  • CFI
    DBVTFB
  • FIGI
    BBG003LT0P46
  • WKN
    A1HCJ3
  • Ticker
    TURKGB 2 10/26/22 CPI
  • Type of security by CBR
    ***

Ratings

Bond classification

  • Non-documentary bonds
  • Coupon bonds
  • Bonds
  • Bearer
  • Indexed
  • Redemption Linked
  • Amortization
  • Callable
  • CDO
  • Convertible
  • Dual currency bonds
  • Floating rate
  • For qualified investors (CIS region)
  • Foreign bonds
  • Green bonds
  • Supranational bond issues
  • Mortgage bonds
  • Perpetual
  • Payment-in-kind
  • Non-Marketable Securities
  • Restructuring
  • Retail bonds
  • Covered
  • Securitization
  • Structured product
  • Subordinated
  • Sukuk
  • Trace-eligible

Restructuring

***

***