Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- Kuveyt Turk signs syndicated club murabaha facility a€ CEO  Join our daily free Newsletter

MENAFN - Arab Times - 05/01/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Arab Times) Kuveyt Turk's syndicated club murabaha facility consists of two separate tranches, one with a term of 1 year and the other with a term of 2 years. The syndicated club murabaha facility obtained at a rate of LiborEuribor 0.90% for the term of 1 year and LiborEuribor 1.25% for the term of 2 years has attracted participations by 12 global and regional banks from 9 countries. Expressing his pleasure upon the successful conclusion of the syndication deal by Kuveyt Trk, Ufuk Uyan, the CEO said that the transaction affirmed the strong position of Kuveyt Trk and Turkey's prestige in the international arena.

Stating that while financial problems prevail especially in Europe, Turkey remains a focus of interest as an investment destination and that such interest is anticipated to further increase in, Uyan went on to say: "Kuveyt Trk's Investment Banking division, has closed a TRL sukuk deal in November which was extremely well received and supported by investors. This deal was the the biggest ever sukuk issuance by a Turkish Bank as well as being most competitively priced. We will also continue to offer to the real sector by increasing overseas resources needed by Turkey on its growth path. I would like to express my gratitude to our busines partner banks who have provided this syndicated club murabaha facility which we will use towards the financing of foreign trade."


Uyan said, "The success of the deal is an indication of the power and extent of of Kuveyt Trk's international correspondent network. 12 banks from Asian, European and Middle Eastern markets have participated in the deal that has been conducted in a very cost-efficient manner at a time when borrowing costs have tended to increase."

The syndicated club murabaha facility arranged in two tranches of 1-year and 2-year terms for 275 million Dollars and 83 million Euro, in aggregate has been participated by the following Banks: Mandated Lead Arrangers: ABC Islamic Bank (E.C.), Abu Dhabi Commercial Bank PJSC, Citibank N.A., Emirates NBD Capital Limited, HSBC Amanah Malaysia Berhad, Kuwait Finance House (Bahrain) B.S.C.(c) and Standard Chartered Bank, Lead Arrangers: Kuwait International Bank, Arrangers: Banka Komb«tare Tregtare sh.a., Commerzbank Aktiengesellschaft, Dubai Islamic Bank PJSC and Islamic Development Bank.

Stating that they will celebrate the 25th anniversary of their establishment in 2014, UYAN said that Kuveyt Turk will continue to meet the wider investment banking requirements of its corporate clients.

 


Arab Times




  MENA News Headlines
 Feb 26 2017 - MEDIA ALERT: AMA Tampa Bay's 2nd Annual Marketer of the Year Awards Thursday, March 2, 2017 | #PRNCMENAFN Press
(MENAFN Editorial) Who: The American Marketing Association Tampa Bay What: AMA Tampa Bay's 2nd Annual Marketer of the Year Awards When: Thursday, March 2, 2017, 5:30-8:30 PM Where: ...

 Feb 26 2017 - Egypt's Coptic flee Sinai after deadly attacksMENAFN
(MENAFN) Dozens of Coptic Christian families in Egypt have fled North Sinai province after a number of killings in recent weeks by suspected Islamist militants.Many have now taken refuge in the ...

 Feb 26 2017 - Saudi foreign minister makes landmark visit to IraqMENAFN
(MENAFN) The Saudi foreign minister Adel al-Jubeir has met Iraqi Prime Minister Haider al-Abadi - the first such visit by a Saudi foreign minister since 1990.The meeting is the latest effort to ease ...

 Feb 26 2017 - Morocco- Zambia Withdraws Recognition of Polisario's Self-proclaimed SADRMorocco World News
(MENAFN - Morocco World News) 'I reiterate my statement made on July 9, 2016 in Rabat,' Zambia's top diplomat told Morocco's official news agency Maghreb Arab Press (MAP). During a visit to Rabat ...

 Feb 26 2017 - Morocco- Marine Le Pen Refuses Police QuestioningMorocco World News
(MENAFN - Morocco World News) Le Pen, however, stressed a in a letter on Friday that she would not answer to any police or judicial convocation until after the parliamentary elections on June 11 and ...

 Feb 26 2017 - Morocco- Stock Exchange Market: MAD 22 Billion Lost in 2 SessionsMorocco World News
(MENAFN - Morocco World News) Rabat – MASI dropped 1.91% to 11,726.24 points at the Casablanca Stock Exchange close on Thursday. The barometer of the most liquid values dropped by 2.10% to 9.583.52 ...

 Feb 26 2017 - Morocco- Moroccan Port Traffic: A Strengthening of ExchangesMorocco World News
(MENAFN - Morocco World News) Rabat – Moroccan ports saw an 8.6% increase in activity in 2016, reports the National Ports Agency, with 121.1 million tons of goods transported compared to last years' ...

 Feb 26 2017 - Morocco Receives $7.6 Billion from Islamic Development BankMorocco World News
(MENAFN - Morocco World News) Al-Hajjar went on to highlight the strategic ties between Morocco and the IDB, noting that the IDB will keep supporting Moroccan development projects, especially those ...

 Feb 26 2017 - America denies entry to Syrian behind Oscar-nominated filmMENAFN
(MENAFN) The US has denied entry to a 21-year-old Syrian behind an Oscar nominated documentary because of problems with his documents.Khaled Khatib did most of the filming for a British movie called ...

 Feb 26 2017 - Syrian Filmmaker Denied Entry to US to Attend OscarsMorocco World News
(MENAFN - Morocco World News) Although refusing to elaborate on the vague use of the word 'derogatory,' the US Department of Homeland Security would only say that Khatib needs a new passport waiver, ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help