AlBaraka Türk Katılım Bankası has mandated ABC Islamic Bank , Al Hilal Bank , Barwa Bank, Emirates NBD Capital Limited, Noor Islamic Bank and Standard Chartered Bank (together the “Initial Mandated Lead Arrangers” and the “Bookrunners”) to arrange a US$ 250,000,000 (and/or equivalent in Euros) Syndicated Murabaha Financing Facility (the “Facility”) on its behalf.
The Facility has been structured as a Shari’a compliant dual currency, dual tranche Murabaha facility with tenors of one year and two years. The Profit Margins for the one year and two years tranches are 100 basis points per annum and 135 basis points per annum respectively.
Proceeds of the Facility will be used to finance AlBaraka Türk’s financing activities. By entering into this Facility, AlBaraka Türk also seeks to further broaden and diversify its funding base, develop new bank relationships and strengthen existing ones.
The facility was launched into general syndication on 18 July 2013, with banks from across the globe invited to participate in the Facility.