Order book on Turkey's sukuk over USD2.25bn -sources
LONDON, Oct 2 (IFR) - The order book for the Republic of Turkey's upcoming issue of a five-year US dollar-denominated sukuk bond has swelled to over USD2.25bn, according to market sources.
Initial profit rate guidance for the issue remains at a spread of 325bp over mid-swaps.
The offering has received a balanced response across geographies, anchored by accounts in the Gulf Cooperation Council.
The 144A/Reg S issue is expected to price this week, but books could go subject at short notice.
HSBC, QInvest and Standard Chartered are the leads.
The issue is expected to be rated Baa3 by Moody's and BBB- by Fitch.
(Reporting by Davide Scigliuzzo; Editing by Sudip Roy)
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