Largest se­cu­rity is­suance con­firms trust in Turk­ish cap­i­tal mar­kets

As a con­se­quence of a suc­cess­ful pub­lic and pri­vate fi­nance part­ner­ship, Tur­key is­sued the largest vol­ume of as­set-backed se­cu­ri­ties, worth TL 3.15 bil­lion ($596 mil­lion), pro­vid­ing liq­uid­ity re­lief for the banks

Daily Sabah (Turkey) - - Front Page -

COMMITTED to deep­en­ing cap­i­tal mar­kets via di­ver­si­fi­ca­tion of fi­nan­cial in­stru­ments and rais­ing more funds through al­ter­na­tive and less costly meth­ods, Tur­key is­sued the largest vol­ume of as­set-backed se­cu­ri­ties Fri­day and the de­mand of 118 in­vestors on these se­cu­ri­ties was 2.43 times higher than the orig­i­nally planned amount of TL 3.15 bil­lion ($596.26 mil­lion). While the move pro­vided liq­uid­ity re­lief for banks, it marked a suc­cess­ful ex­am­ple of pub­lic-pri­vate fi­nance part­ner­ship. Ac­cord­ing to a state­ment re­leased by the Trea­sury and Fi­nance Min­istry, the is­suance of the largest as­set-backed se­cu­rity in Tur­key was car­ried out suc­cess­fully by the As­set Fi­nance Fund es­tab­lished un­der the Turk­ish Devel­op­ment and In­vest­ment Bank (TDYB). Lead­ing in­vest­ment banks – Ak­tif In­vest­ment Bank, Garanti In­vest­ment, Halk In­vest­ment and Zi­raat In­vest­ment – par­tic­i­pated in the is­suance. “Most of the de­mand in as­set-backed se­cu­ri­ties came from banks, pen­sion funds, in­vest­ment funds and in­sur­ance com­pa­nies and four Turk­ish banks that car­ried out the is­suance boosted their liq­uid­ity as much as the amount of the is­sued se­cu­ri­ties,” the min­istry’s state­ment said. The min­istry said the se­cu­ri­ties with a nom­i­nal value of TL 3.15 bil­lion had a five-year ma­tu­rity and a fixed-coupon pay­ment of three months.

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