HSBC Sees 2013 Sukuk Sales Doubling to $3 Billion: Turkey Credit
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Islamic bond sales in Turkey may double to $3 billion this year as companies join the government in accessing Shariah-compliant investors, according to HSBC Holdings Plc, the world’s biggest underwriter of sukuk.
Sales reached about $1 billion this year, led by banks including Turkiye Finans Katilim Bankasi AS, according to data compiled by Bloomberg. The yield on March 2018 notes, which Turkey sold for the first time in September, fell six basis points this year to 2.68 percent, seven basis points below the global average, the data show.