Kuveyt Turk follows Al Baraka Turk into Islamic loan market
Turkish Islamic bank Kuveyt Turk has sent out an invitation letter to loans bankers for a murabaha facility. The approach comes a week after smaller Islamic bank Al Baraka Turk signed an oversubscribed $430m murabaha financing after launching the deal into syndication at $250m.
Kuvyet Turk has asked for a one and two year facility. Kuveyt surprised lenders by pricing the one year loan with an all-in margin of 205bp while the two year piece offers 250bp.
This is slightly above the all-in paid by smaller Turkish Islamic bank Al Baraka Turk for
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