Mystery Grows Over Turkey State Banks' Rushed Private Debt Sales
- Three state lenders raised 10.9 billion liras last week
- Neither buyers nor yields have been announced to the public
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Who bought 10.9 billion liras ($1.8 billion) of Turkish state banks’ subordinated debt in hurried sales last week?
That’s the question that’s been dominating talk among local economists and investors, with speculation focusing on whether assets from the nation’s unemployment fund were deployed to boost the lenders’ capital buffers. The banks haven’t provided many details, saying the sales were private.