September 13, 2012 / 8:31 AM / 5 years ago

Turkey plans lira-denominated sovereign sukuk-Al Baraka

ISTANBUL, Sept 13 (Reuters) - Turkey is expected to issue a lira-denominated sukuk, or Islamic bond, by the end of September, the Turkish unit of Bahraini lender Al Baraka Bank’s said on Thursday.

The unit’s deputy chief executive Ayhan Keser said the issue was expected to be of around 1.5-2.0 billion lira with a maturity of 2 years. He said the issue would take place a week after the sale of Turkey’s first-ever dollar-denominated sovereign sukuk.

$1 = 1.8075 Turkish liras Reporting by Ceyda Caglayan, Writing by Seda Sezer, Editing by Nick Tattersall

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