Kuveyt Türk made a quick entry to 2018 by issuing sukuk for a total sum of 550 million TL in two transactions on January 2 and 16.
The leading participation bank in the sector which has introduced lease certificate (sukuk) in Turkey, Kuveyt Türk made a quick entry to 2018 by issuing sukuk for a total sum of 550 million TL in two transactions in the first half of January. The lease certificates of 350 million TL with a maturity of 104 days for which bookrunning has taken place on January 2 and the lease certificates of 200 million TL with a maturity of 120 days for which bookrunning has taken place on January 16 shall be distributed to the certificate holders on 17 April 2018 and 17 May 2018, respectively, along with the principal sum and yields.
Dr. Ruşen Ahmet Albayrak, EVP of Treasury and International Banking at Kuveyt Türk
was quoted as saying “We have issued lease certificates of total 2.3 billion TL in 2017 with a 35-percent increase compared to the previous year.
That amount represented the issue of lease certificate of the largest ever amount in TL annually in the participation banking sector. We have just made a great entrance to 2018 by issuing our first issues of this year totaling to 550 million TL within the 5 billion TL limit permitted by the Capital Markets Board. In line with the growth of interest-free funds, and increased interest in and awareness of the lease certificate, we are intending to increase our sukuk volume and diversify it with new sukuk models. In the upcoming months, we will carry out issues to qualified investors as well as through initial public offering.”