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Garanti rouses Turkish DPRs from five-month slumber

Turkiye Garanti Bankasi issued paper backed by diversified payment rights last week, breaking a silence that Turkish banks have maintained since last November. Wrapped by MBIA, the $300 million, eight-year transaction priced at 24 basis points over three-month Libor. Dresdner Kleinwort Wasserstein led the transaction, which has a 5.51-year...

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