DUBAI, June 19 Turkish participation bank Kuveyt
Turk has launched a $500 million, five-year sukuk offer that
will price later on Thursday, a document from lead arrangers
The transaction is set to a price at a spread of 340 basis
points over mid-swaps, a document from lead managers said, at
the tight end of final guidance of 350 bps plus or minus 10 bps
given earlier in the day.
Pricing was revised once earlier; initial pricing thoughts
were given in the area of 375 bps over the same benchmark on
The bank has garnered orders worth more than $3.25 billion,
the document added.
The banks arranging the transaction are Citigroup,
Emirates NBD, HSBC, Kuwait Finance House
and Standard Chartered.
(Reporting by Archana Narayanan; Editing by David French and