Kuveyt Türk issued Tier-II sukuk of US$350 million in February; a domestic lease certificate of 300 million Turkish liras in May and international sukuk of US$500 million in October this year, becoming the largest sukuk issuer in Turkey in the process.
Ufuk Uyan, CEO, Kuveyt Türk said that they were pleased with the volume and diversity of the demand for sukuk. Emphasising that the sukuk issuance was the indication of international investors’ confidence in Kuveyt Türk, Uyan said, “This reveals...their appetite for taking the medium-long term risk (with) Kuveyt Türk and Turkey. In this respect, we are very pleased that we bring in new resources to our country.
Ufuk Uyan, CEO, Kuveyt Türk said that they were pleased with the volume and diversity of the demand for sukuk. Emphasising that the sukuk issuance was the indication of international investors’ confidence in Kuveyt Türk, Uyan said, “This reveals...their appetite for taking the medium-long term risk (with) Kuveyt Türk and Turkey. In this respect, we are very pleased that we bring in new resources to our country.
"It is seen that our issuance will serve as a benchmark for other overseas issues to take place in Turkey. As a matter of fact, when all the issues of other banks in 2016 are compared, this is the most successful issue in terms of the demand level and the cost. Ongoing development and improvement of investment banking and confidence of sukuk investors in the sector and our country as well as the strong equity structure and quality asset structure of Kuveyt Türk have become influential in successful closing of this issue.”
Kuveyt Türk issued 21 sukuk issuance of around 1 billion 524 thousand Turkish lira and three lease certificates totalling RM800 million to eligible investors in the country. It was also responsible for an the largest lease certificate issuance by value for an initial public offering by the private sector in Turkey in 2015.