İş Finansal Kiralama raises $21M in Turkish lira bill sale
What's the deal? İş Finansal KiralamaDealroom has a profile for this one. Try Dealroom → has raised US$203.7M (roughly $21 million) through a private placement of a 364-day fixed-rate financing bill, sold to qualified investors in Turkey. The bill was placed via İş Yatırım Menkul DeğerlerDealroom has a profile for this one. Try Dealroom → and carries a 39.75% annual simple interest rate.
The terms: Denominated in Turkish lira, the bill will trade on the local stock exchange, with a single coupon redemption on 15 September 2027.
What's the endgame? The issuance is part of a broader US$2.85B debt securities program approved by Turkey's Capital Markets Board. İş Finansal Kiralama, which provides leasing and structured financing to corporate and qualified investors, uses such instruments to diversify funding and manage its maturity profile.
Why it matters: The company said the transaction strengthens its liquidity position and reinforces access to Turkey's capital markets. It carries an AA-(tur) investment-grade rating from Fitch RatingsDealroom has a profile for this one. Try Dealroom →.
The signal: The near-40% coupon underlines the cost of short-term borrowing in Turkey's high-rate environment, where firms lean on domestic debt markets and institutional buyers to fund lending activity.
Read more: tipranks.com
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