Albaraka opens new frontiers with murabaha tier two
Albaraka Turk’s sukuk this week has been hailed by officials close to the deal as a landmark transaction for the capital markets, as the first murabaha tier two sold to international investors.
In doing so Albaraka succeeded with the murabaha structure where other firms notably Goldman Sachs last year had not.
The Turkish banking unit of Bahrain-based Albaraka defied doubters on Monday afternoon when it priced its debut sukuk at 7.75%, at the tight end of previous guidance.
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