Turkey gives initial price guidance of 7.5-7.625% for benchmark USD sukuk – document

© Reuters

DUBAI (Reuters) – Turkey on Wednesday gave initial price guidance of between 7.5% and 7.625% for U.S. dollar-denominated sukuk, a bank document showed.

Citigroup (NYSE:C), Dubai Islamic Bank, HSBC and KFH Capital are arranging the debt sale expected to launch later on Wednesday, the document from showed.

Turkey has seen as sharp fall in its currency which fell 44% last year, battered by rising inflation, unorthodox monetary policies and anxiety around political intrusion in policy making.

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Source: Investing.com