02.11.2011 - Turkish banking arm of Kuwait Finance House issues $350mln Sukuk with a coupon rate of 5.875pct
The Vice Chairman and CEO of Liquidity Management House (LMH), Emad Y. Al-Monayea, stated that LMH managed to arrange and distribute an Ijara/Wakala Sukuk for Kuveyt Turk for an amount of $350m over a tenor of 5 years. The Sukuk issuance was rated BBB- by Fitch and will be listed on the London Stock Exchange. Al-Monayea stated that the issuance was concluded in a record time with a competitive rate during a difficult market period; all while adhering to the recent law issued by the Capital Market Authority in Turkey to organize the issuance of Sukuks. (Press Release)