April 16, 2013 / 10:17 AM / 5 years ago

Al Baraka's Turkey unit picks banks for Tier 2 sukuk - IFR

LONDON, April 16 (IFR) - Turkish participation bank AlBaraka Turk, a unit of Bahrain’s Al Baraka Bank, has appointed BNP Paribas, Al Hilal Bank, Barwa Bank, Emirates NBD and Japan’s Nomura for a potential Tier 2 sukuk issuance.

IFR, a unit of Thomson Reuters, reported on Tuesday that the banks will run a series of fixed income investor meetings in the Middle East and Europe starting April 18. A Reg S only Murabaha dollar-denominated Tier 2 sukuk transaction may follow subject to market conditions. (Reporting by Abhinav Ramnarayan)

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