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Türkiye Vakiflar Bankasi issues pioneering lira covered bond

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Türkiye Vakiflar Bankasi issues pioneering lira covered bond

Türkiye Vakiflar Bankasi TAO issued 1.3 billion Turkish lira of covered bonds.

The notes carry a 5.5-year maturity.

It is the first Turkish lira denominated covered bond transaction in Turkey, excluding deals made with multinational development banks.

As of Oct. 9, US$1 was equivalent to 3.73 Turkish lira.