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The Republic of Türkiye, rated Ba3 by Moody’s and BB– by Fitch, has returned to the bond market as the sovereign eyes a dollar-denominated six-year Regulation S sukuk offering, with IPTs in the 7.125% area.
The benchmark-sized senior unsecured Ijarah structure has an expected rating of Ba3 / BB- (Moody’s/Fitch).
Dubai Islamic Bank, Emirates NBD Capital Limited, HSBC (B&D), KFH Capital, Mashreqbank (acting through its Islamic Banking Division), and Standard Chartered Bank are the joint lead managers on the deal.
The Islamic bond has a settlement date of 2 July 2026 and matures on 2 July 2032. It will list on the London Stock Exchange’s International Securities Market.
(Writing by Bindu Rai, editing by Seban Scaria)
