By Tuba Sahin
ANKARA (AA) - International market demand for Turkiye's dollar-denominated bonds was more than triple the issue size of the security, the Turkish Treasury and Finance Ministry said on Friday.
"The (bond) offering attracted an orderbook of more than three times the actual issue size from more than 150 accounts," the ministry said in a statement.
Some 27% of the issue has been sold to investors in the Middle East, 25% to those in Turkiye, 23% in the UK, 18% in the US, 6% in other European nations, and 1% in other countries.
The ministry on Thursday authorized three international institutions -- Citi, Goldman Sachs, and J.P. Morgan -- to issue a dollar-denominated bond due 2027.
The transaction was finalized with a nominal amount of $2 billion, it said.
The five-year bond has a coupon rate of 8.6% and a yield to investor of 8.625%.
"With this transaction, the amount of funds that have been raised from the international capital markets in 2022 has reached a total of $5 billion," said the ministry.