BANKING - Albaraka Turk Plans to Raise as Much as $750 Million in 2012

www.bloomberg.com - Albaraka Turk Katilim Bankasi AS (ALBRK), the Turkish unit of Bahrain’s AlBaraka Banking Group (BARKA), plans to raise as much as $750 million through syndicated financing and an Islamic bond sale this year, the group chief executive said.
The bank may raise between $400 million and $500 million from a so-called syndicated murabaha facility next week, CEO Adnan Yousif said in a telephone interview late yesterday from Alexandria, Egypt. The financing will mostly be in dollars, with some in euros, he said. The bank also plans to raise as much as $250 million from the sale of 7-year Islamic bonds this year. (source)

REAL ESTATE - QInvest advises Turkey REIT on $50mn ‘murabaha’ finance facility

www.gulf-times.com - QInvest has advised a Turkey-based Real Estate Investment Trust (REIT) on the latter’s $50mn syndicated ‘murabaha’ finance facility.
QInvest acted as sole book runner and structuring advisor to İş Gayrimenkul Yatırım Ortaklığı (İş REIT), which entered into a financing agreement with a syndicate of banks from the Gulf Cooperation Council (GCC).
The finance facility carries tenure of two years and a profit rate of Libor +250 basis points.  (source)

REAL ESTATE - İş REIT Signs US$ 50 million Syndicated Murabaha Facility

www.qinvest.com -

• 2-year syndicated US Dollar Murabaha facility.
  
• QInvest acting as Sole Bookrunner and Structuring Advisor.
  
• Qatar Islamic Bank acting as Initial Mandated Lead Arranger with Barwa Bank, First Gulf Bank and Mashreq Bank as Mandated Lead Arrangers.

İş Gayrimenkul Yatirim Ortakligi A.S (“İş REIT” or the “Company”) has signed a US$ 50 million Murabaha facility with a syndicate of banks from the GCC. The facility carries a tenor of 2 years and a profit rate of LIBOR +250 bps.

QInvest acted as Sole Bookrunner and Structuring Advisor to İş REIT. Qatar Islamic Bank was the Initial Mandated Lead Arranger and is also acting as the Investment Agent with Barwa Bank, First Gulf Bank, Mashreq Bank taking the Mandate Lead Arranger roles. (source)

BANKING - Noor Islamic Bank does $2.2bn syndicated business in Turkey

www.ameinfo.com - Noor Islamic Bank has completed Islamic market mandates valued at over $2.2bn (Dhs8bn) in the past two years in Turkey, cementing its position as the leading UAE bank executing Shari'a compliant syndicated facilities in Turkey.

In its latest foray into the Turkish market, the bank, as an initial mandated lead arranger and joint bookrunner, successfully closed a $350m equivalent dual-currency Murabaha facility for Türkiye Finans Katilim Bankasi. Launched at $150m, the syndicated loan was oversubscribed by more than 2.5 times.

Over the past nine months Noor Islamic Bank has also been the initial mandated lead arranger and joint bookrunner for a $325m facility for Bank AYSA; a $75m facility for HALK Leasing and a $350m facility for Al Baraka Turk Bank.  (source)

FINANCE - Turkish Bank Asya gears up for syndicated loan

www.m2.com - 1 March 2012 - Turkish lender Asya Katilim Bankasi AS is seeking to get a syndicated Islamic loan that could be denominated in various currencies, the bank said in a bourse filing yesterday.

In particular, Asya plans to draw a one-year loan worth the equivalent of USD200m (EUR150m). (source)

BANKING - Al-Omar: KFH-Turkey's success encouraged other foreign banks to enter Turkish market

Chairman of Kuwait Finance House in Turkey Mohammed Al-Omar announced that the bank plans to continue its pivotal role in the Turkish market, in addition to cementing its strategy that is based on strengthening economic relations with neighboring countries, and with Kuwait and other GCC countries. He added that the bank also plans to continue offering Islamic products and instruments that can broaden the horizon of Islamic banking in the Turkish economy, such as sukuk, murabaha, and ijarah. (source)

BANKING - Albaraka Turk names banks for sukuk roadshow

Nov 21 (Reuters) - Albaraka Banking Group's Turkish unit Albaraka Türk Katlm Bankas has mandated four banks on a series of investor meetings and may issue an Islamic bond as early as next month, a banker familiar with the matter said on Monday.

"Albaraka Turk mandated Deutsche Bank, Emirates NBD, Noor Islamic Bank and QInvest to arrange fixed income meetings in Asia, Europe and the Middle East starting Nov 26," the banker, who asked not to be named, told Reuters.  (source)

FINANCE - BIBD provides Murabaha financing to Turkish firm

bt.com.bn - BANK Islam Brunei Darussalam Berhad (BIBD) will be providing financing of US$75,000,000 ($97,500,000) to Turkiye Finans Katilim Bankasi (TKFB) AS under the bank's Murabaha Financing Facility.

BIBD, one of Brunei's largest financial institutions, said the financing facility will be for five years and will provide funding for small and medium enterprises (SME) in Turkey. (source)

FINANCE - Emirates NBD announces Q3 2011 results with operating profit of Dhs5.0bn (yndicated term loan and murhaba financing facilities for banks based in Turkey)

ameinfo.com - Emirates NBD announced its results for the nine months ended 30 September 2011. Positive and resilient operating performance with pre-impairment operating profit of Dhs5.0bn for the 9 months ended 30th September 2011 and Dhs1.8bn for Q3 2011, the highest quarterly level this year.

Net profit for the 9 months ended 30th September 2011 of Dhs2.3bn, up 20% compared with the same period in 2010. Earnings per Share for the period up 23% to Dhs0.38.  (source)

FINANCE - Albaraka Türk Katılım Bankası A.Ş., Turkey US$ 350,000,000 equivalent Dual Currency Syndicated Murabaha Financing Facility (the "Facility")

ABC Islamic Bank (E.C.), Emirates NBD Bank PJSC, Noor Islamic Bank and Standard Chartered Bank (together the "Initial Mandated Lead Arrangers" and the "Bookrunners" are pleased to announce the successful closure and signing of a US$ 350,000,000 equivalent Dual-Currency Syndicated Murabaha Financing Facility for Albaraka Türk Katılım Bankası A.Ş. ("Albaraka Türk" or the "Bank"). (source)

FINANCE - Albaraka Turk closes $350m loan facility

Bahrain-based Albaraka Banking Group (ABG) said its Turkish unit Albaraka Türk Katılım Bankas has successfully closed a $350 million dual-currency syndicated murabaha financing facility.

Several major banks including ABC Islamic, Emirates NBD, Noor Islamic and Standard Chartered acted as the initial mandated lead arrangers and the bookrunners for the transaction. (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 - Products: Offering grows in wake of crisis

By David Oakley, Capital Markets Correspondent Islamic finance investors love property.

The Shard of Glass, under construction in London, and Bahrain’s World Trade Centre, the Gulf states’ landmark twin-tower and luxury shopping complex, are two high-profile property developments out of thousands around the world financed by Islamic investors.

BANKING - Al Baraka Turk plans $250 mln Islamic loan

DUBAI, Aug 22 (Reuters) - The Turkish subsidiary of Bahraini Islamic lender Al Baraka has mandated banks for a $250 million sharia-compliant facility, the chief executive of the parent company said on Sunday.

"We'll be signing it on September 15," Adnan Yousif, chief executive of Al Baraka, told reporters.


The lead arrangers of the murabaha facility for Al Baraka Turk are Standard Chartered, Lebanon's Blom Bank and a subsidiary of Bahrain's Arab Banking Corporation, Yousif said.


The facility will be used for general corporate purposes, he added.