Investors Snap Up Turkey Eurobonds Despite Political Unrest
A protester wrapped in a Turkish national flag sits in front of Turkish riot police officers during a demonstration in Istanbul, on Sept. 8.
Photographer: Kemal Aslan/AFP/Getty ImagesThis article is for subscribers only.
Turkey’s latest international bond sales are drawing robust demand, a sign of investor resilience even as domestic political tensions flare.
The Treasury and Finance Ministry on Tuesday sold $2 billion of 10-year dollar bonds at a 7% yield. About 200 investors, led by those in the UK, US and Europe, submitted orders, and total bids were more than three times the size of the bond offering. That follows a $1 billion bond sale last week by the Turkey Wealth Fund, which drew nearly $10 billion in orders.