26.03.2013 - Bank Asya raises $250mln through 10-yr subordinated sukuk
Turkish Islamic lender Bank Asya has raised $250 million in international markets through a subordinated sukuk issue with a ten-year maturity, the bank's chief executive Ahmet Beyaz said on Monday. Strong investor demand and a need to improve capital adequacy ratios (CAR) are causing Turkey's Islamic banks to consider issuing subordinated sukuk, bankers and analysts told Reuters last month. Beyaz said in a statement this issue would raise its CAR to around 16 percent from 13 percent. The notes priced at par to yield 7.5 percent...............................................Full Article: Source
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