Turkey's Asya Bank completed the issue of a USD 250mn subordinated sukuk loan

According to Bloomberg, Asya Bank completed the issue of a USD 250mn subordinated sukuk loan with a 10-year duration and a 7.5% cost of borrowing.Comment: Based on its 2012 financials, Asya Bank had a capital adequacy ratio of 13.6% and the USD250mn subordinated loan will raise the...

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 E-mail article  Print  Save Additional News in English Još vesti na Srpskom Επιπλέον ειδήσεις στα Ελληνικά  Text

Turkey's Asya Bank completed the issue of a USD 250mn subordinated sukuk loan



Balkans.com Business News Correspondent - 22.03.2013

According to Bloomberg, Asya Bank completed the issue of a USD 250mn subordinated sukuk loan with a 10-year duration and a 7.5% cost of borrowing.

Comment: Based on its 2012 financials, Asya Bank had a capital adequacy ratio of 13.6% and the USD250mn subordinated loan will raise the capital adequacy ratio to 16.2%. Consequently, Asya Bank will have the ammunition to grow more rapidly in the high margin SME segment through capitalizing on its franchise as well as increasing its presence in non-cash lending activities, mainly issuing L/Cs without giving up profitability.

Source: bne


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