BANKING - Turkiye Finans enters into USD 350 mio Murabaha Syndication

www.finansglobal.com - Turkey Finance, the total participation of 15 countries, 29 international markets, the bank provided 350 million U.S. dollars Murabaha syndication.

provided by financial markets syndicate finansUluslararası turkey Murabaha Finance General Manager of Turkey Derya Gürer Speaking at the signing ceremony, the consortium led ABC Islamic Bank, HSBC, said Noor Islamic Bank and Standard Chartered Bank undertook.  (source)

BANKING - Turkiye Finans obtains a USD 350 mio Murabaha Syndication

www.dunya.com - Finance General Manager of Turkey Derya Gürer: This syndication and corporate finance to SMEs primarily to companies in need of support, reasonable cost and kullandıracağız conditions.
ISTANBUL - Turkey Finance, the total participation of 15 countries, 29 international markets, the bank provided 350 million U.S. dollars Murabaha syndication.
Bank of Asia syndicate of international financial markets has provided Murabaha Finance General Manager of Turkey Derya Gürer Speaking at the signing ceremony, the consortium led ABC Islamic Bank, HSBC, said Noor Islamic Bank and Standard Chartered Bank undertook. (source)

FINANCE - New 350 million USD loan for Albaraka Turk

New Murabaha syndicated loan, will be used to meet the capital needs of SMEs.
ISTANBUL - Albaraka, in September 2010 provided $ 240 million Murabaha syndicated loan amounting to more then signed a new agreement. The Bank's new $ 350 million for a syndicated loan of 25 banks and financial organizations from 17 countries signed the agreement. (source)

CAPITAL MARKETS - FRANCE - Al Baraka to launch 100 mln euro bank in France by H1 2012 - Albaraka Turk to issue Sukuk

JEDDAH, Saudi Arabia, Aug 11 (Reuters) - Bahraini Islamic lender Al Baraka will expand to France next year and expects to launch a bank with a capital of 100 million euros ($142 million) by the first half of 2012, the bank's top official told Reuters.

Al Baraka had announced in 2009 its plan to launch operations in France but had to postpone it due to the financial crisis. (source)

FINANCE - US$ 150,000,000 Dual Currency Syndicated Murabaha Financing Facility

Albaraka Türk Katılım Bankası A.Ş. ("Albaraka Türk") has mandated ABC Islamic Bank (E.C.), Emirates NBD Bank PJSC, Noor Islamic Bank PJSC and Standard Chartered Bank (together the "Initial Mandated Lead Arrangers" and the "Bookrunners") to arrange a US$ 150 Million equivalent Dual-Currency Syndicated Murabaha Financing Facility (the "Facility") on its behalf. Financing under this Facility will be used by Albaraka Türk to expand its financing activities in Turkey. The Facility has a tenor of one year and carries a profit rate of 150 bppa over the relevant LIBOR/EURIBOR.(source)

FINANCE - Noor Islamic Bank Successfully Closes US$300-Million Structured Murabaha Syndicated Facility For Bank Asya - Facility is Noor’s Third Transaction in Turkey

Press Release - Noor Islamic Bank, as Initial Mandated Lead Arranger and Book Runner with ABC Islamic Bank (E.C.), National Bank of Abu Dhabi PJSC and Standard Chartered Bank, has successfully closed a US$300-million dual currency Islamic structured Murabaha Syndicated Facility (the “Facility”) for Bank Asya, one of Turkey’s leading Islamic banks. (full story)

FINANCE - Bank Asya receives over $300 mln in murabaha loan

Bank Asya's general director Çelik (C) at the signature ceremony.

Turkey’s leading participation bank, Bank Asya, has received over $300 million in a “murabaha” syndicated loan from 26 international financial institutions, marking the largest such loan ever extended to a Turkish bank.

Murabaha is an Islamic method of extending loans that involves a particular kind of sale where the seller states the cost of the commodity to be sold and sells it to another person, adding a specified amount of money to the price. Since murabaha is not a loan extended with interest but the sale of a commodity for cash or deferred payment, interest-free banks commonly use it as a financial instrument to earn profits. (full story)

FINANCE - BANK ASYA Murabaha Syndication

31/03/2011 17:11:29
Turkish participation lender Bank Asya said on Thursday, in a statement with the IMKB, that the bank has secured a 1-year US$171mn and EUR94.5mn murabaha  syndication loans from a consortium of 26 international banks from 19 countries. (full story)

31/03/2011 16:10:38

Turkish participation bank Bank Asya obtained a murabaha syndication facility of 300 million USD.
The murabaha syndication facility has been realized with the participation of 28 banks and financial institutions from 18 countries led by Standard Chartered Bank, ABC Islamic Bank, Noor Islamic Bank and National Bank of Abu Dhabi.
The maturity of the facility is determined as one year in Euro and USD tranches.
The agreement on the availability of the credit reaching a volume of 171 million USD and 94,5 million Euro was signed in a ceremony in Istanbul.
The syndication was secured with an interest rate of Libor/Euribor plus 1.5 percent.
(AA)  (full story)

CAPITAL MARKETS - Turkish Bank Asya launches US$150m Islamic loan

March 1, 2011 (RLPC) – Turkish Islamic lender Bank Asya has appointed ABC Islamic Bank, National Bank of Abu Dhabi, Noor Islamic Bank and Standard Chartered Bank as initial mandated lead arrangers and bookrunners for a US$150m syndicated dual currency murabaha financing, the banks announced.(source)

BANKING - Albaraka provides ‘murabaha’ syndicated loan

Albaraka Türk has launched “murabaha” syndicated loans worth $240 million with the participation of 22 banks and financial institutions from 14 countries.

The maturity date for the murabaha loan, which will be provided under the leadership of Standard Chartered Bank, ABC Islamic Bank and Noor Islamic Bank, is one year.