Türkiye has launched a new six-year US dollar sukuk transaction, marking another step in its international funding programme as the sovereign taps demand for Shariah-compliant debt.
The planned benchmark-sized issuance is structured as a senior unsecured Ijarah sukuk and is being offered under Regulation S. Initial price thoughts have been set around 7.125%.
The sovereign carries ratings of Ba3 from Moody’s and BB- from Fitch, with the proposed sukuk expected to receive the same ratings from the two agencies.
A syndicate comprising Dubai Islamic Bank, Emirates NBD Capital, HSBC, KFH Capital, Mashreqbank through its Islamic banking division, and Standard Chartered has been appointed to manage the transaction.
The sukuk is scheduled to settle on July 2, 2026, and will mature on July 2, 2032, giving investors a six-year exposure to Türkiye’s dollar-denominated Islamic debt. The securities are also expected to be listed on the International Securities Market of the London Stock Exchange.
The offering comes as Türkiye continues to diversify its funding sources while maintaining a presence in the global sukuk market, a segment that remains an important channel for attracting liquidity from Islamic investors across the Middle East and beyond.
