01.11.2016

Kuveyt Türk’ s international sukuk issuance of USD 500 million for a maturity of 5 years attracted great interest from investors. The deal also has become the most successful international capital markets issuance performed from Turkey in 2016.

Pioneering the innovations and records in domestic and overseas sukuk markets, Kuveyt Türk’s sukuk issuance with a nominal value of USD 500 million and maturity of 5 years encountered with 4 times greater demand than the amount, despite its competitive pricing. The issuance has attracted 150 international investors from the Gulf, Europe and Asia. 61% of the investors are from Gulf countries, 27% England and continental Europe and 12% from Asia.

Expressing their pleasure with the level of demand for the issuance and regional diversity of the investors, Mr. Ufuk UYAN, the General Manager of Kuveyt Türk said, “Just like our previous issues, the international investors have once again displayed their confidence toward Kuveyt Türk and their appetite for taking the medium-long term risk of Kuveyt Türk and Turkey. In this respect, we are very pleased that we bring in new resources to our country. It is seen that our issuance will serve as a benchmark for other overseas issuances to take place in Turkey. As a matter of fact, when all the issuances taken place in 2016 are compared, this is the most successful issuance in terms of the demand level and the cost. Ongoing development and improvement of investment banking and confidence of sukuk investors in the sector and our country as well as the strong equity structure and quality asset structure of Kuveyt Türk have become influential in successful closing of this transaction”.

Kuveyt Türk has appointed KFH Capital as Global Coordinator, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, KFH Capital, Noor Bank, Qinvest, Standard Chartered Bank as Lead Arranger/Bookrunner, and Al Rayan Investment and Warba Bank Co-Arrangers.