ISTANBUL (Turkey), January 5 (SeeNews) – Qatar Islamic Bank, QIB, said it has underwritten a syndicated loan of $40 million (34 million euro) to Turkish Islamic bank Kuveyt Turk Katilim Bankasi [BIST:KUVYT].
QIB was also lead arranger in the transaction, which represents a $350 million Islamic Murabaha loan, extended by a group of Gulf banks to Kuveyt Turk, QIB said in a statement on Sunday, confirming information published earlier by Kuveyt Turk’s parent firm Kuwait Finance House.
Financial services provider Kuwait Finance House said last week that its unit Kuveyt Turk has obtained a $350 million syndicated dual currency dual tranche murabaha facility from 12 regional and global banks.
“Initial mandated lead arrangers and bookrunners to the deal are: ABC Islamic Bank, Abu Dhabi Commercial Bank, Barwa Bank, Emirates NBD Capital, Noor Bank, and Qatar Islamic Bank, while the participants in the deal are: Boubyan Bank, Kuwait International Bank, Saudi British Bank, Ahli United Bank-Bahrain, United Arab Bank, and Commerzbank,” Kuwait Finance House said in its statement.
($ = 0.839 euro)