Albaraka Turk takes up sukuk baton after Turkiye Finans

istanbul princess island
By Dan Alderson
08 May 2014

Albaraka Turk has picked arrangers as it aims to follow participation bank peer Turkiye Finans’s recent return to the dollar sukuk market. But one investor warned that Albaraka may find its deal more challenging.

Albaraka Turk is looking to issue up to $500m of five year paper and has asked BNP Paribas, Emirates NBD, QInvest and Standard Chartered to manage the sale. Albaraka filed to the Istanbul bourse, but leads could not confirm the mandate or say if a roadshow will follow.

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