Aktif Bank realizes Mudarabah Sukuk issuance of 118 million USD with a maturity of 7 years on GEM, the Irish Stock Exchange.
Aktif Bank, the largest privately-owned investment bank in Turkey, has launched a new era in investment banking with the international Mudarabah Sukuk issuance, for which it has acted as the broker, and it has ensured fund procurement from the international capital markets by acting as the single broker in international issuance by a company, resident in Turkey, for the first time. This Sukuk issuance is also the first sukuk transaction in the first Mudarabah transaction type performed internationally by a company from Turkey. This issuance is also important on international basis since it is the first Sukuk issuance performed on Global Exchange Market, the Irish Stock Exchange.
This issuance of 118 million USD with a maturity of 7 years and semiannual coupon payments, performed on Global Exchange Market, the Irish Stock Exchange, by Aktif Bank on May 10, 2017, was concluded successfully thanks to the demands of international companies.
Expressing their appreciation with the interest attracted by the issuance, Dr. Serdar Sumer, General Manager of Aktif Bank, said: "We, as Aktif Bank, have completed another issuance that is both a different and innovative transaction on the international markets. An investment bank acted as the single broker for international Sukuk issuance for the first time in Turkey. We intend and aim to increase the number of international issuances, and diversify the resources in the upcoming period."