Turkey's Albaraka Turk sets initial talk at 8% area for sukuk

By Christine Van Dusen

Atlanta, April 25 - Turkey's Albaraka Turk Katilim Bankasi AS set initial talk in the 8% area for its upcoming offering of dollar-denominated Islamic bonds, a market source said.

BNP Paribas, Al Hilal Bank, Barwa Bank, Emirates NBD Capital and Nomura Securities are the bookrunners for the Regulation S-only sukuk offering.

A roadshow began on April 18 in Zurich and then traveled to London, Abu Dhabi, Dubai and Doha before concluding on April 23 in Manama, Bahrain.

The company previously announced plans to issue $200 million five-year notes in 2013.

Albaraka is a banking group based in Istanbul.

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