ABC Islamic Bank (E.C.), Barwa Bank, 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$ 230,500,000 and EUR 115,300,000 Syndicated Dual-Currency Murabaha Financing Facility (the "Facility") for Asya Katılım Bankası A.Ş. ("Bank Asya" or the "Bank").
Launched at US$ 225 Million, the Facility was oversubscribed to close at US$ 382 Million equivalent with participation from 28 banks from across the globe. The Facility carries a profit rate of 125 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 30 April 2013 and a commemorative event was being held in Istanbul on 02 May 2013 to mark the occasion.
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About Asya Katılım Bankası A.Ş.
Bank Asya was established on 24 October 1996 as a Turkish Private Finance House incorporated in Istanbul and is operating in accordance with the principles of interest-free banking. The Bank's main objective is to spread an interest-free finance system by using the latest opportunities of technology in accordance with customer-oriented service mentality.
Asya is one of the four 'Participation banks' currently operating in Turkey, and as such it is subject to the Turkish Banking Act; the regulations of Banking Regulation and Supervision Agency; and the Savings Deposit Insurance Fund regulations. Bank Asya is currently rated "Ba2"/stable by Moody's Investor Services, which upgraded its rating in July 2012. Turkey also enjoys a long term rating of BBB- / stable, BB/stable and Ba1/positive from Fitch, S&P and Moody's respectively.
Bank Asya represents 1.6% of total Turkish banking system assets (ranking 13th among 49 banks) and 1.8% of total deposits (ranking the 12th) at end of 2012. As a leading participation bank in Turkey, Bank Asya enjoys a market share of 32.8% and 33.4% of the aggregate bank deposits and financing portfolio respectively by participation banks as of Q4 2012. Asya is also the largest participation bank in terms of shareholders' equity, assets size, deposits and loans. Bank Asya is currently operating with 250 branches all over the country majority of them are in the prominent industry and trade centers of Turkey. It also has a representative office in India and a branch in Iraq.
On 21st March, 2013 Bank Asya, the largest participation bank in Turkey by assets, successfully priced a USD 250m debut RegS Tier 2 sukuk. The sukuk was the first Tier 2 sukuk issued out of Turkey. Prior to this, Bank Asya had also successfully launched the first private sector Turkish Lira sukuk in Turkey.
© Press Release 2013
