Skip to content
Subscriber Only

Turkey to Raise $1.5 Billion With First Dollar Bond in Year

  • Yield on 10-year Eurobonds near lowest level this year
  • Turkish Treasury set to sell debt at yield of 5 percent
Updated on

Turkey is selling dollar-denominated bonds for the first time since April as borrowing costs fall to the lowest level this year and investors speculate the U.S. won’t rush to raise interest rates.

The Ankara-based Treasury is seeking to raise $1.5 billion from the offering of 10-year securities at a yield of 5 percent, according to information from a person familiar with the matter, who isn’t authorized to speak publicly and asked not to be identified. The yield on sovereign notes due April 2026 has dropped 14 basis points to 4.91 percent in 2016, while a JPMorgan Chase & Co. gauge of emerging-market bonds climbed to the highest since May.