Turkey Wealth Fund Seeks to Fully Roll Over Syndicated Loan

Turkey’s sovereign wealth fund is looking to fully roll over its two-year syndicated loan that matures in March, according to people with direct knowledge of the matter.

The wealth fund, also known by its initials TWF, had missed the rollover target by a wide margin in the syndication right before the 2023 national elections when foreign demand for Turkish assets was limited. Investor sentiment has turned positive since Turkey adopted a more conventional approach to monetary policy, aggressively raising interest rates to tame inflation.