KFH-Turkey issued Basel III-compliant USD350 million Tier 2 sukuk
Kuwait Finance House Turkey (KFH-Turkey) issued Tier 2 Basel III-complaint sukuk worth USD350 million. The sukuk offers a yield at 7.9% and has a 10-year tenure. It will be listed on the Irish Stock Exchange. Fitch assigned an expected rating of BBB- to this capital-boosting tier 2 issue. KFH-Turkey targets boosting its capital adequacy ratio so it can grow and enhance its presence in the international markets, said Abdulaziz Nasser Al-Marzouq, CEO of KFH-Capital. (Kuwait Times)
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