Istanbul: Turkey is scaling up its Sukuk program and all set to issue country’s second sovereign sukuk. For this purpose, Turkey has given mandate to banks for the issuance of second sovereign issue in international markets last week, the Treasury of the country announced.
According to the Treasury, Turkey has mandated three banks for the issue in international markets and it will hold a series of investor meetings from September 23 to October 1 in the Middle East and Asia.
“HSBC, QInvest and Standard Chartered have been mandated to explore opportunities for a possible lease certificate issuance in the international capital markets,” the Treasury said in a statement on its website.
Turkey raised $1.5 billion with its debut dollar-denominated sukuk in last September.
Turkey has borrowed $4.2 billion from international capital markets so far this year and plans to borrow a total of up to $6.5 billion through a mix of Eurobond, Samurai and sukuk issues by the end of the year.
The investor meetings will be held in Doha, Dubai, Riyadh, Jeddah, Singapore and Kuala Lumpur.