Tuesday 18, September 2018 by Kudakwashe

Turkiye Finans applies for $800 million Sukuk programme

 

The Sukuk would be sold through a wholly-owned leasing unit, TF Varlik Kiralama, with an initial issuance of TRL 180 million and maturity of 119 days.

Turkish lender Turkiye Finans has applied for an Islamic bond to raise an aggregate TRL 5 billion ($800 million), reported Reuters.

Pending approval from Turkey’s Central Market Board, this could be the largest Islamic bond programme by the bank which is majority owned by Saudi’s National Commercial Bank.

The lender said that this can be increased to TRL 270 million depending on investor demand.

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