Ziraat Katılım Bankası A.Ş. (“
Ziraat Participation”,
or the “
Bank”), has mandated Bank
ABC, Dubai Islamic Bank PJSC, Emirates NBD Capital Limited, Standard Chartered Bank and Warba
Bank K.S.C.P (each an "
Initial
Mandated Lead Arranger" and “
Bookrunner”) to arrange a US$ 150,000,000 Syndicated Dual Currency Murabaha
Financing facility (the “
Facility”).
Bank ABC is appointed as the
Coordinator to the Facility.
The Facility has been structured as a
Shari’a compliant Murabaha facility with a one-year and two- days tenor with a
green-shoe option to increase the Facility size. The Facility will be denominated in US$ and
EUR and the proceeds from the Facility will be used for general funding
purposes.
Syndication was launched on 4th
March 2019 and is expected to close in early April 2019.
Bank
Overview
Ziraat Katilim was founded by the decision of the Banking
Regulation and Supervision Agency (“BRSA”) dated 10 October 2014 with an
initial capital of TRY 675 million fully paid by the Turkish Treasury. The Bank
commenced its operations by opening its first branch on 29 May 2015. Its head
office is located in Istanbul. Following to its latest capital injection (on 23
October 2018), the paid up capital of Ziraat Katilim has reached TRY 1,750
million.
Ziraat
Katilim
is
the first state owned participation bank in Turkey. As of the year end 2018,
Ziraat Katilim has 80 branches across the country and it has 1,042 staff. In
2019 and 2020 the Bank plans to open 20 branches more in each year which will
bring its number of branches to 120 by the end of 2020.
The
vision of Ziraat Katilim is to become a leading participation bank in Turkey
through expanding its branch network, using alternative distribution channels,
diversifying its credit risk together with its funding base and enhanced
service quality.
Ziraat
Katilim managed increase its assets from TRY 14,350
million in 31 December 2017, to TRY 22,189 million as of 31 December 2018 which
demonstrates significant growth.
Ziraat
Katilim anticipates a rapid growth in assets reaching TRY 34 billion and TRY 47
billion by the end of 2019 and 2020 respectively.
Turkey is rated Ba3 by Moody’s, B+ by S&P and BB by Fitch.