Deals
Turkey Wealth Fund Plans Debut Bond After Seeking Credit Rating
- Issuance is said to be planned for the first half of next year
- Fund will begin process by completing financial statements
Photographer: Kerem Uzel/Bloomberg
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Turkey’s sovereign wealth fund plans to tap international bond markets next year once the quality of its debt has been assessed by global ratings companies, according to three people with knowledge of the plan.
The fund, formally known as Turkiye Varlik Fonu Yonetimi AS, will first complete its financial reports with the help of an international consultancy firm, said the people, who asked not to be identified because the details aren’t public. The bond sale is targeted for the first half of 2020, they said.