Turkey's sukuk order book over USD4bn -sources
LONDON, Oct 2 (IFR) - The order book for the Republic of Turkey's upcoming five-year US dollar-denominated sukuk bond has exceeded USD4bn, according to market sources.
Initial profit rate guidance for the issue remains at a spread of 325bp over mid-swaps.
The deal is expected to launch and price on Thursday, with order books in Europe and the United States expected to close at 17:00 BST and 22:00 BST respectively on Wednesday.
Books for Asian and Middle East investors are slated to close at 10:00 AM Singapore time and 10:00 AM UAE time respectively on Thursday.
The offering has received a balanced response across geographies, anchored by accounts in the Gulf Cooperation Council.
HSBC, QInvest and Standard Chartered are the leads on the 144A/Reg S deal.
The issue is expected to be rated Baa3 by Moody's and BBB- by Fitch. (Reporting by Davide Scigliuzzo; Editing by Anil Mayre)
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