Turkey sells $2.5bln in 5-year sukuk

Receiving over $7.75bln in orders for the Islamic bonds

  
Muslims, including one clutching prayer beads, attend Friday prayers during the opening of the Ibn-Rushd-Goethe Mosque on June 16, 2017 in Berlin, Germany. Image used for illustrative purposes.

Muslims, including one clutching prayer beads, attend Friday prayers during the opening of the Ibn-Rushd-Goethe Mosque on June 16, 2017 in Berlin, Germany. Image used for illustrative purposes.

Getty Images/Sean Gallup

DUBAI- Turkey sold $2.5 billion in five-year sukuk on Tuesday after the Islamic bonds drew more than $9.3 billion in orders, a document detailing the transaction showed.

The Turkish government U.S. dollar-denominated sukuk were sold at 5.125%, tightened from an initial price guidance of around 5.5%, the document from one of the banks on the deal showed.

Dubai Islamic Bank, Emirates NBD Capital, HSBC and Standard Chartered arranged the deal.

(Reporting by Yousef Saba; Editing by Alexander Smith and Alex Richardson) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))


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