IslamicFinance.de

Albaraka Turk Katilim Bankasi has issued TRL 600 million dual-tranche Sukuk through its subsidiary Bereket Varl?k Kiralama Sirketi. While the targeted total amount of the issuance was TRL 450 million, the total amount reached TRL 600 million. The certificates had two different tenors as 98 days and 147 days and the size of each tranche was TRL 450 million and TRL 150 million respectively. Malek K. Temsah, Albaraka Turk’s Assistant General Manager of Treasury, said that the uniqueness of this transaction was in its dual-tenured nature, which offered investors additional flexibility.

Albaraka Turk Katilim Bankasi AS mandates BC Islamic Bank (E.C.), Barwa Bank Q.S.C., Dubai Islamic Bank PJSC, Emirates NBD Capital Limited, Kuwait International Bank ve Standard Chartered Bank for a murabaha syndication loan with a total initial amount of $400 million in EUR and USD currency. The loan is going to have maturity periods of 367 days and 2 years 3 days.