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AlBaraka Türk Katılım Bankası A.Ş., Turkey US$430,000,000 Syndicated Murabaha Financing Facility
2013-09-18
ABC Islamic Bank (E.C.), Barwa Bank, Emirates NBD Capital Limited, Noor Islamic Bank PJSC and Standard Chartered Bank (together the “Initial Mandated Lead Arrangers” and the “Bookrunners”) are pleased to announce the successful closure and signing on 12 September 2013 of a US$430,000,000 equivalent Dual-Currency Syndicated Murabaha Financing Facility for AlBaraka Türk Katılım Bankası A.Ş. (“Albaraka Türk” or the “Bank”).  

Launched at US$250 Million, the Facility was oversubscribed to close at US$430 Million with participation from 23 institutions from across the globe. The Facility was structured as a Shari’a compliant US Dollar and EURO dual currency, dual tranche Murabaha Facility with tenors of one year and two years.  The Profit Margins for the one year and two years tranches are 100 basis points per annum and 135 basis points per annum respectively.  

The Facility has given AlBaraka Türk the opportunity to broaden and diversify its funding base, develop new bank relationships and strengthen existing ones.  The proceeds will be used to expand its financing activities in Turkey. 

AlBaraka Türk has arranged for a commemorative event to be held in Istanbul on 24 September 2013 to mark the close and signing of the Facility.

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