Kuveyt Turk wins ‘Türkiye’s Leading Sukuk Issuer

Kuveyt Türk has been awarded the “Türkiye’s Leading Sukuk Issuer” award in 2016 at ‘Capital Markets Awards’ held by Turkish Capital Markets Association (TSPB).


The award was handed by President Recep Tayyip Erdoğan to Mr. Ufuk Uyan, CEO of Kuveyt Türk.

Turkish Capital Markets Association (TSPB) has this year nominated Kuveyt Türk for its contribution to the market at its award ceremony where the companies adding value to capital markets each year. Kuveyt Türk issued Tier-II sukuk of 350 million dollars in February, domestic lease certificate of 300 million Turkish Liras in May and international sukuk of 500 million dollars in October this year holding its title of being the largest sukuk issuer in Türkiye.

Expressing their pleasure that they have contributed to the Turkish economy with the highest-amount “sukuk” issues performed by the private sector and that they have been deemed worthy of that award, Mr. Ufuk Uyan, CEO of Kuveyt Türk stated that they were pleased with the demand for the sukuk issuance and regional diversity of the demand. Emphasizing that the sukuk issuance was the indication of international investors’ confidence in Kuveyt Türk, Mr. Uyan said, “this reveals their Kuveyt Türk and their appetite for taking the medium-long term risk of Kuveyt Türk and Türkiye. 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 issues to take place in Türkiye. As a matter of fact, when all the issues of other banks in 2016 are compared, this is the most successful issue 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 issue”.

Kuveyt Türk had issued 21 sukuk issuance of around 1 billion 524 thousand TL and three lease certificate in ringit currency, in total 800 million ringit, to the eligible investors in the country as well as in terms of initial public offering which is the highest-amount lease certificate issuance made so far by the private sector in Türkiye in 2015.