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Erdogan’s $2 Billion Reason to Thank the Saudis

Turkey shrewdly took advantage of the spillover demand from Riyadh’s bond sale this week.

Investors may well be underpricing the economic risks.

  • Marcus Ashworth
  • Bloomberg

There are opportunistic financing deals, and then there’s Turkey.

A $2 billion 10-year bond sale appeared out of nowhere for the country on Wednesday, with no roadshow and…

But there was one big helping hand.

Saudi Arabia had just launched $7.5 billion of new 10- and 30-year notes and had elected for tighter pricing rather than raising a larger sum.

This left a window for Turkey to present themselves to bond funds who were already looking at the…

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