04.04.2011 - Sekerbank readies Turkey's first covered bond
Mid-sized Turkish lender Sekerbank is in the market with what will be Turkey's first covered bond deal. The deal is being structured through Unicredit with strong support from the IFC, the private sector development arm of the World Bank, which owns 3% of Sekerbank. The deal is likely to be five years in maturity and at least EUR200m in size. There will be four tranches: one being sold to private sector investors; one guaranteed by the European Investment Fund, with a Triple A rating; and one each bought directly by IFC and Dutch development agency FMO..............................................Full Article: Source
Print