Banking, Finance & Takaful

Turkiye Finans to raise up to RM3 billion with sukuk in Malaysia

Turkiye_Finans_Katılım_Bankası_logoTurkish lender Turkiye Finans Katilim Bankasi plans to sell RM3 billion of Islamic bonds in Malaysia, according to a filing with the central bank today.

Sukuk under the programme will have a tenure of one to 20 years, and will be sold on a bought-deal basis through book building or private placement.

Funds raised will go towards general corporate purposes.

The sukuk murabaha will be issued through TF Varlik Kiralama, a wholly-owned unit of Turkiye Finans.

Malaysia’s RAM Ratings has accorded the programme an indicative long-term rating of AA3.

HSBC Amanah Malaysia and Standard Chartered Saadiq are joint advisers.

Reuters

 

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