Republic of Turkey €1 billion sukuk issue

8/6/2016
Sukuk, Sovereign bond issue

$ 1 billion

Completed

8/6/2016


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

Jurisdictions:

United States
United Kingdom
Turkey

Deal types:

Sukuk
Sovereign bond issue

Practice areas:

Capital markets : Debt
Islamic finance

Governing law:

Turkey

Industry sector:

Government and public policy


Firms:

Party: Republic of Turkey (Issuer)

Lawyer: Steven Tepper


Party: Republic of Turkey (Issuer)

Lawyer: Sera Somay