Thursday, October 21

Türkiye Finans issues RM800 million sukuk Murabahah


KUALA LUMPUR: TF Varlik Kiralama, a wholly-owned asset leasing company of Türkiye Finans Katilim Bankasi AS and Turkish-based participation bank, has issued a RM800 million sukuk under its inaugural RM3 billion Sukuk Murabahah Programme.

In a statement yesterday, the bank said it is the first issuance by a Turkish issuer of Malaysian Ringgit denominated sukuk, in the Malaysian debt capital market.

The sukuk is for a tenure of five years to utilised by Türkiye Finans for general corporate and funding purposes and working capital requirements which are Shariah compliant.

HSBC Amanah Malaysia Bhd chief executive officer Rafe Haneef said the bank is pleased to lead another landmark sukuk issuance with this debut issuance from Turkey in tapping the Malaysian debt markets.

“This milestone follows the successful debut issuance from Saudi Arabia last year and Kazakhstan in 2012.

“As the largest senior single tranche issuance by any foreign financial institution and the largest issuance from the European and Middle East region in the Malaysian debt market to date, it further enhances Malaysia’s position as a global Islamic finance hub.

“It is also testament to the country’s mature sukuk market and legal framework,” he added.

HSBC Amanah Malaysia Bhd and Standard Chartered Saadiq Bhd are the joint principal advisers, joint lead arrangers, joint lead managers and joint Shariah advisers of the sukuk Programme. — Bernama