Commentary & Deal Flow

The Republic of Turkiye (TURKEY), exp Ba3/BB- (s/s) by Moody's/Fitch, US$ benchmark SEC registered 10y global sr notes due 9/16/35. BBVA/DB/GS/JPM (B&D) joint books. Denoms: 200,000 x 1,000. Listing: Luxembourg Stock Exchange’s Regulated Market. Governing Law: New York Law. UOP: The Republic of Türkiye will use the net proceeds of the offering for general budgetary purposes. Books open, pricing today (9/9). Settle 9/16 (T+5). IPTs: 7.30% area.