Republic of Turkey €1 billion sukuk issue

Overview:

• The Republic of Turkey has completed a $1 billion sukuk (Islamic bond) issue, the fourth shariah-compliant bond issue by the government.
• The lease certificates are due 2021 and carry an interest rate of 4.251%, or 290 basis points over mid-swaps.
• The joint lead managers on the deal were Emirates NBD, HSBC Bank and Standard Chartered.

Jon Moore - Journalist