Turkiye Finans reopens sukuk to participation

Istanbul px230 for global capital
By Dan Alderson
16 Apr 2014

Turkiye Finans has led the return of Turkish participation bank issuers to the sukuk market after nearly a year of absence, achieving a strong result this week that leads on the deal hailed as a door-opener for its peers.

Turkiye Finans had to navigate challenging markets on Tuesday with what was also the first deal since Turkey’s March 30 municipal elections and one of the first Middle East bank sukuk of 2014. But the bank priced its $500m five year sukuk inside guidance at 5.375%. And, ...

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