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Turkey seeking to raise US$1.5bn from sukuk and yen issuance
The sovereign, rated Baa3 by Moody's and BBB- by Fitch, is to raise around USD400m-equivalent from the yen-denominated transaction and the rest from the sukuk.
"The merit [of the yen deal] is not going to be the principal amount, but issuing as a standalone without JBIC support," the official said at the sidelines of a conference in London.
The sovereign is aiming to price the sukuk in the fourth quarter of the year, and the yen-denominated deal at some point in the second half of the year, according to the official.
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