Published: May 9, 2013
Islamic facility for Bank Asya attracts interest from 28 banks.
Turkey’s Bank Asya has secured a syndicated dual-currency Murabaha facility. The facility consists of one tranche worth US$230.5mn and another worth €115.3mn (US$151.7mn).
Initially pitched at US$225mn, the facility received US$382mn-worth of interest from 28 banks. It carries a profit rate of 125 basis points per annum above the relevant benchmark.
Bookrunners and initial mandated lead arrangers were ABC Islamic Bank, Barwa Bank, Emirates NBD Capital, National Bank of Abu Dhabi, Noor Islamic Bank and Standard Chartered. Proceeds will go towards expanding Bank Asya’s financing activities.