Asya Katılım Bankası A.Ş., Turkey
ABC Islamic Bank (E.C.), Emirates NBD Capital Limited, National Bank of Abu Dhabi PJSC, 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 of a US$ 201,000,000 and EUR 96,500,000 Dual-Currency Syndicated Murabaha Facility (the "Facility") for Asya Katılım Bankası A.Ş. ("Bank Asya" or the "Bank").
Launched at US$ 200 Million, the Facility was oversubscribed to close at US$ 325 Million equivalent with participation from 28 banks from across the globe. The Facility carries a profit rate of 200 bppa over the relevant benchmark. Proceeds from the Facility will be used by Bank Asya to expand its financing activities in Turkey.
The Facility was signed on 16 April 2012 and a commemorative event is being held in Istanbul on 19 April 2012 to mark the occasion.
About Asya Katılım Bankası A.Ş.
Asya Katılım Bankası A.Ş., incorporated in Istanbul, was established on 24 October 1996 as a Turkish Private Finance House and operates in accordance with the principles of interest-free banking.
Bank Asya is the largest amongst the four 'Participation banks' currently operating in Turkey. It is subject to the Turkish Banking Act and is governed by Banking Regulation and Supervision Agency and the Savings Deposit Insurance Fund regulations. Bank Asya is rated "Ba3" by Moody's Investor Services and "B+" by Fitch Rating Services, which affirmed its rating in November 2011.
Bank Asya represents 1.4 per cent of total Turkish banking system assets (ranking 13th among 48 banks) and 1.8 per cent of total deposits (ranking the 12th) at end of 2011. As a leading participation bank in Turkey, Bank Asya enjoys a market share of 33% and 36% of the aggregate bank deposits and financing portfolio respectively by participation banks as of Q4-2011. Bank Asya is also the largest participation bank in terms of shareholders' equity and has pioneered Islamic Banking instruments in the Turkish Market since establishment. Bank Asya is currently operating with 200 branches all over the country, majority of which are in the prominent industry and trade centers of Turkey.
© Press Release 2012
