Noor executes $1.4 billion Islamic mandates, eyes sukuk in Turkey

Noor Islamic Bank has completed Islamic capital market mandates valued at over $1.4 billion (AED5.14 billion) in the past six months in Turkey. As an Initial Mandated Lead Arranger and Joint Bookrunner, Noor successfully closed a $500 million equivalent dual-currency Murabaha facility for Türkiye Finans Katilim Bankasi, which was oversubscribed two times. Noor Islamic Bank has also been an Initial Mandated Lead Arranger and Joint Bookrunner for a $382 million dual currency Murabaha Facility for Asya Katilim Bankasi A.S (Bank Asya) and a $500 million Sukuk for Tukiye Finans Katilim Bankasi A.S. In total, 85 banks and financial institutions across Asia, Middle East, Africa and Europe have participated in the syndicated financing deals led by Noor this year.