03.10.2012 - Turkey’s sovereign sukuk spurs new issuances
It is all about timing and the Turkish Treasury get it spot on. No sooner had the Turkish Treasury mandated Citigroup, HSBC and Liquidity Management House (LMH), the investment bank subsidiary of Kuwait Finance House, in early September “to explore opportunities for a possible Lease Certificate (Sukuk Al-Ijara) issuance in the international capital markets”, the roadshows to the GCC, Southeast Asia, Europe and the US were already in motion. The mark-to-market process including the price discovery for a debut international issuance was unusually short – hardly a fortnight. The pricing, confirmed one banker, was tight from the start, always within the 300 basis points range...............................................Full Article: Source
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