Norton Rose Fulbright advises Albaraka Türk on million-dollar sukuk

Norton Rose Fulbright has advised Albaraka Türk Katılım Bankası A.Ş. on their issuance of USD350 million Certificates due 2019.

The Sukuk, while backed by the credit of Albaraka Türk as obligor, was issued by Bereket Varlık Kiralama A.Ş. an asset leasing corporation established in Turkey pursuant to the Lease Certificate Communiqué in Turkey. The Sukuk represents Albaraka Türk's second international Sukuk issuance following the issuance of their Tier 2 Sukuk in 2013, on which Norton Rose Fulbright also advised.

The Joint Lead Managers were Emirates NBD Capital Limited, Nomura International plc, QInvest LLC and Standard Chartered Bank.

The team was led by partner Gregory Man and capital markets of counsel Vicky Jones assisted by senior associates Cynthia Teo and Ahmet Kalafat. Somay Hukuk Bürosu advised Albaraka Turk on the Turkish law aspects of the deal. Clifford Chance LLP and Yegin Çiftçi Attorney Partnership advised the Managers on English law and Turkish law aspects respectively. Clifford Chance LLP also advised BNY Mellon Corporate Trustee Services Limited as Representative.