IFLR1000

Albaraka Türk $250 million sukuk

1/12/2015
Sukuk
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$ 250 million

Completed

1/12/2015

Overview:

  • Albaraka Türk has issued a $250 million sukuk listed on the Irish Stock Exchange.
  • It was the first Basel III-compliant Tier 2 sukuk issuance in Turkey.
  • The certificates were issued through an orphan special purpose vehicle established in the Cayman Islands.
  • Barwa Bank, Dubai Islamic Bank, Emirates NBD Capital, Nomura International, Noor Bank, QInvest and Standard Chartered Bank acted as joint lead managers on the issue.

Jon Moore - Journalist

Jurisdiction:

Türkiye

Deal type:

Sukuk

Practice areas:

Capital markets : Debt
Islamic finance

Governing law:

Ireland

Industry sector:

Banking

Firms:
Clifford Chance

Party: Dubai Islamic Bank (Lead manager)

Party: Emirates NBD (Lead manager)

Party: Nomura International (Lead manager)

Party: Standard Chartered Bank (Lead manager)

Party: Barwa Bank (Lead manager)

Party: Noor Bank (Lead manager)

Party: QInvest (Lead manager)

Party: Deutsche Trustee Company (Delegate)

Lawyers: Qudeer Latif, Stuart Ure

Maples Group

Party: Albaraka Türk Katılım Bankası (Issuer)

Norton Rose Fulbright

Party: Albaraka Türk Katılım Bankası (Issuer)

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