Turkey’s Bank Asya plans 10-yr subordinated sukuk issue up to $300 mln

Turkish Islamic lender Bank Asya said on Monday it had mandated banks for a subordinated sukuk issue worth up to $300 million with a ten-year maturity. The lender made the statement to the Istanbul Stock Exchange. Strong investor demand and a need to improve capital adequacy ratios are causing Turkey's Islamic banks to consider issuing subordinated sukuk.

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