Albaraka Turk Katilim Bankasi is pleased to announce that it has successfully issued nominal TRY 600 million of dual tranche lease certificates through its subsidiary Bereket Varlık Kiralama Şirketi on 4th of October. While the targeted total amount of the issuance was TRY 450 million, thanks to strong demand from the market, total amount reached to TRY 600 million. The certificates had two different tenors as 98 days and 147 days and the size of each trache was TRY 450 million and TRY 150 million respectively.
Commenting on the issue, Malek K. Temsah, Assistant General Manager of Treasury, Investment Banking, and Financial Institutions stated: “The uniqueness of this transaction was in its dual-tenored nature with investors able to subscribe to either the 98 day issue or the 147 day issue, both which were priced at different levels in line with market rates. Based on their different investment horizon appetites and pricing expectations, this transaction offered our investors additional flexibility. The daily liquid nature of these instruments in the secondary market and the ability of our customers to use these purchased lease certificates as collateral for potential credit facilities from our bank, have all contributed to the strong demand we continue to see for this asset class.”
© Press Release 2019
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.