Al Baraka Bank issues 600 Million TL Lease Certificate via public offering

Al Baraka Bank issues 600 Million TL Lease Certificate via public offering

According to the statement made by Al Baraka Turk Participation Bank, the demand for leasing certificate (Sukuk), which began on October 1, was very intense.

The initial public offering of the lease certificate by Albaraka Türk Katılım Bankası, which started on October 1 and continued until October 3, met with great interest.

According to the bank statement, as a result of the high demand for lease, the amount was raised from 450 million to 600 million TL.

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Demand for Lease Certificate break records

Mr. Malek K.Temsah, Assistant General Manager of Treasury, Investment Banking and Financial Institutions at Al Baraka Bank, said that they received a large demand for the purchase of the lease certificate and they had completed the process with two different maturity options.

“The maturity period was 98 days for 450 million TL of Sukuk, while the period was 147 days for 150 million TL of Sukuk.

This made this announcement different from others,” Temsah said, “Our offering provides extra flexibility to our investors who have investment preferences and price expectations.

The liquidity of these Sukuk in the secondary market and the ability of our clients to use these Sukuk as collateral for the potential loan opportunities of our bank contributed to the strong demand.”

Edit By: Realty Group

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