Turkey’s Undersecretariat of the Treasury raised 1.6 billion Turkish Liras in a lira-denominated sovereign sukuk (rent certificate) issuance late Oct. 2 and total demand was nearly 3.28 billion liras, the Treasury said in a written statement.
Turkey raised $1.5 billion through a dollar-denominated sukuk last month. The second issuance came as a success as the government diversifies its sources of financing by tapping into the global Islamic bond market.
The two-year lease sukuk will pay a lease return of 3.7 percent every six months.
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