King & Spalding advised Turkiye Finans Katilim Bankasi A.S., one of the leading Turkish participation banks, in relation to the issuance of US$500 million senior unsecured certificates due 2019, listed on the Irish Stock Exchange. The certificates are issued through TF Varlik Kiralama A.S., a Turkish incorporated asset leasing company.
“We were delighted to have worked with Turkiye Finans on this transaction,” said Rizwan H. Kanji, a partner in King & Spalding’s Middle East and Islamic finance practice in Dubai. “The first sukuk issuance out of Turkey this year, it should pave the way for additional similar transactions there.”
King & Spalding’s Dubai-based debt capital markets team has extensive experience advising on sukuk issuances from Turkey. The firm’s lawyers advised on the first Turkish sukuk and the first sukuk under the amended Turkish legislation in 2011.
Kanji led the team handling the Turkiye Finans issuance. He was assisted by senior associate Lidia Kamleh.
The joint lead managers on the transaction were Citigroup Global Markets Limited, EmiratesNBD, HSBC and QInvest. Co-managers Dubai Islamic Bank and Commercial Bank International were advised by Clifford Chance LLP.
