| Turkish Islamic bank Türkiye Finans issued a $500 million five-year Islamic bond, also known as a sukuk, in a bid to take its share of the soaring investor appetite for alternative financial instruments as well as Turkey’s ambitious plans to boost its Islamic finance offers.
The sale, which is bank’s first and Turkey’s second largest after the Treasury’s issuance of $1.5 billion worth of sukuks last September, attracted a massive order from 95 global investors at $1.9 billion, which is 3.8-fold the sale. The sale carried a 3.95 percent yield...............................................Full Article: Source |