The Turkish Treasury announced on 28 September that it had issued 2.16 billion lira ($726 million) of lira-denominated sukuk by means of two separate issuances with maturities of Sept. 26, 2018 and Sept. 22, 2021. TRY 1.102.839.178 amount of fixed rent rate Lease Certificate (TRD260918T17) and TRY 1.066.565.092 amount of CPI Indexed Lease Certificate (TRD220921T16) were issued with the issue date of 28 September 2016.
Full information on the Sukuk.com database of issued sukuk, a reference source for the Sukuk industry.
Sukuk are referred to as lease certificates in Turkey and for the period from January to July 2016 represented 5% of domestic borrowing for the Republic of Turkey.
Turkey last entered the international capital markets in June with a $1 billion issuance priced at a profit rate of 4.251% with a five year maturity. The below chart illustrates the coupon pricing of the Sukuk is under both of the conventional issuances made in 2016.