CAPITAL MARKETS - Turkey's Bank Asya postpones sukuk due to negative markets

Nov 25 (Reuters) - Turkish lender Bank Asya , which offers non-interest banking services adhering to Islamic law, said on Friday it had postponed its planned sukuk issue due to negative international market developments.

Bank Asya said on Oct. 20 it had mandated Citigroup Global Markets Limited and UBS for a five-year sukuk with a volume of up to $300 million. (Writing by Seltem Iyigun)  (source)

CAPITAL MARKETS - Islamic Bond Alert

ALBARAKA TURK KATILIM BANKASI AS (ALBRK): The Turkish Islamic bank owned by Bahrain-based Albaraka Banking Group BSC hired Deutsche Bank AG, Emirates NBD, QInvest Llc and Noor Islamic Bank to manage a sale of as much as $200 million of five-year Islamic bonds, it said in a statement to the Istanbul Stock Exchange on Oct. 21. 

ASYA KATILIM BANKASI AS (ASYAB): The Turkish Islamic bank will offer as much as $300 million of five-year sukuk. Bank Asya, as the lender is known, hired Citigroup Inc. and UBS AG for the sale and has started talks with investors, the bank said in a filing with the Istanbul Stock Exchange.(source)

CAPITAL MARKETS - Turkey’s Tax Change Paves Way for Sukuk Sales: Islamic Finance

Islamic bond sales from Turkey are picking up pace after the government changed its tax law to apply the same rates to sukuk as non-Islamic debt.

Two banks, Asya Katilim Bankasi AS (ASYAB) and Albaraka Turk Katilim Bankasi AS (ALBRK), plan to sell as much as $500 million in Shariah-compliant debt after Kuveyt Turk Katilim Bankasi AS, a unit of Kuwait Finance House (KFIN) KSC, offered $350 million of five- year sukuk Oct. 20. (source)

CAPITAL MARKETS - Sukuk gain where bonds lose in a month of firsts

Almost a year after we saw the first corporate sukuk out of Turkey, and in line with our expectations in "Sukuk set record in first 9 months" that Turkey might surprise the market with a series of sukuk issues in 4Q 2011, the market welcomed the second issuance by Kuwait Finance House's Turkish subsidiary. (source)

TURKEY - CAPITAL MARKETS - Disclosure Bank Asya to Istanbul Stock Exchange for sukuk

bankasya.com.tr - 21.10.2011 - International credit ratings agency Moody's Investor Service has determined Bank Asya’s Sukuk Certificates rating as Ba2 and Fitch Ratings has also determined as B + (exp). (source)

20.10.2011 - In order to diversify and increase of Bank Asya's resources from abroad, Citigroup Global Markets Limited and UBS AG has been authorized for Sukuk issuance in international markets maximum term of 5 years up to USD 300 million. In this context, Bank Asya will begin negotiations with investors. (source)

CAPITAL MARKETS - Kuveyt Türk opens Turkey up to Islamic bond market

It has been a groundbreaking week for Islamic finance in Turkey, with Thursday bringing both a $350m benchmark sukuk from Kuveyt Türk Participation Bank, and word that Asya Bank is looking to roadshow its own deal. (source)

CAPITAL MARKETS - Bank Asya mandates Citi, UBS for sukuk, up to $300 mln

uk.reuters.com - Oct 20 (Reuters) - Turkish lender Bank Asya , which offers non-interest banking services adhering to Islamic law, said on Thursday it had mandated Citigroup Global Markets Limited and UBS for a five-year sukuk with a volume of up to $300 million.  (source)

CAPITAL MARKETS - Sukuk Issuance - Bank Asya for 300 million USD

zawya.com - In order to diversify and increase of Bank Asya's resources from abroad, Citigroup Global Markets Limited and UBS AG has been authorized for Sukuk issuance in international markets maximum term of 5 years up to USD 300 million. In this context, Bank Asya will begin negotiations with investors.  (source)