25.04.2016
The principal sum shall be paid on 20 April 2018 along with the final lease revenues.
Commenting on the issue process of the lease certificate, Mr. Ufuk Uyan, the CEO of Kuveyt Türk, explained that the issuance has been realized by KT Kira Sertifikaları Varlık Kiralama A.Ş., a subsidiary of Kuveyt Türk and through Kuveyt Turk, as the bookrunner. . Stating that they have established KT Portföy Yönetim A.Ş. in 2015 performing a first in the Turkish participation banking sector, Mr. Uyan said "CPI-indexed sukuk with real rate of yield of gross 3.39 percent per annum have been acquired by KT First Participation Hedge Fund and KT Second Participation Hedge Fund of KT Portföy Yönetim A.Ş. The periodical yield of the sukuk shall be calculated by adding the CPI rates occurring during the last 3 months to the real rate of yield. The principal shall be paid to the investors on 20 April 2018 along with the final lease revenues. The CPI-indexed sukuk eliminating the possible risks of inflation on the amount of yield enable us to expand our investor base and to offer them investment opportunities with longer maturities.
Stating that they had entered the sukuk market in 2010, marking another first in Türkiye, Mr. Uyan added, "So far, Kuveyt Türk has issued sukuk of a total of TL 6,7 billion in domestic and overseas markets in different currencies such as US Dollar, Ringgit Malaysia and Turkish Lira, and 4,6 billion TL is currently listed in various stock exchanges . We, as Kuveyt Türk, will still continue to contribute to sukuk markets."