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New 5-Year USD Bond Three Times Subscribed

TURKEY
  • Turkey's new 5-year USD Sukuk (Jan'29) bond is about three times subscribed, the Treasury said in a statement. The certificates have a lease rate of 8.5091% and yield to investor of 8.5%.
  • The foreign exchange position reporting practice, in which companies with a total cash and non-cash loan balance of TRY10m or above are required to submit information to the Central Bank regarding their foreign currency assets and liabilities, has been abolished, the central bank said in a statement.
  • Ozgur Ozel, the newly-elected chairman of main opposition Republican People’s Party, takes over from Kemal Kilicdaroglu at a ceremony at 1400GMT/1700 local time in Ankara.
  • There are no major data releases scheduled for today. Industrial production data will be released on Friday (Est: +2.8% y/y; Prior: +3.1%).

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