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International bonds: Kuveyt Turk Participation Bank, 9.13% perp., USD (XS2028862998)

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Perpetual, Variable rate, Sukuk, Subordinated Unsecured

Status
Outstanding
Amount
200,000,000 USD
Placement
***
Redemption (put/call option)
Perpetual (*** CALL)
ACI on
Country of risk
Turkey
Current profit share rate
***%
Price
-
Yield / Duration
-
Calculate in two clicks! yield, duration and other parameters
Calculate in two clicks! yield, duration and other parameters
Calculator What is a calculator?
  • Placement amount
    200,000,000 USD
  • Outstanding amount
    200,000,000 USD
  • USD equivalent
    200,000,000 USD
  • Minimum Settlement Amount
    200,000 USD
  • ISIN RegS
    XS2028862998
  • Common Code RegS
    202886299
  • CFI RegS
    DAFNQR
  • FIGI RegS
    BBG00PPPKSW2
  • Ticker
    KFINKK V9.13 PERP

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Issue information

Profile
Kuveyt Turk is a Participation Bank established in 1989 to operate in accordance with terms set forth by the Council of Ministers' Decree dated Dec. 16, 1983 and no. 831/7506. Until they become subject to the ...
Kuveyt Turk is a Participation Bank established in 1989 to operate in accordance with terms set forth by the Council of Ministers' Decree dated Dec. 16, 1983 and no. 831/7506. Until they become subject to the Banking Law in 1999, activities of Special Finance Houses were conducted by Council of Ministers Decrees on the one hand and by Directives of the Central Bank and the Undersecretariat of Treasury on the other hand. Starting from December 1999, Kuveyt Turk has become subject to the Banking Law no. 4389 just as other Special Finance Houses. Shareholders of Kuveyt Turk are Kuwait Finance House (62%), Kuveyt Social Security Institution (9%), Islamic Development Bank (9%), General Directorate of Associations Turkey (18%), and other shareholders (2%). The Kuveyt Finance House, which is the largest shareholder of Kuveyt Turk with its 62 % share, is a giant finance institution of Kuveyt with its outstanding asset volume and contemporary and pioneering banking services. Kuveyt Turks objective is to bring diligence to the interest-free banking system, research fields of investment and introduce contemporary, reliable, rapid and high quality services to its customers with very qualified staff members. It is proud to take fast service of high quality through its branch offices, alternative delivery channels and correspondent banks within and outside the country employing all state-of-the art technological facilities to the depositors and investors. Kuveyt Turk has reached to the level of leading banks in Turkey in respect of capital adequacy. Kuveyt Turk, which converts the savings of its customers who are profit and loss sharers into sound and profitable investments on the most profitable sectors and creates new employment facilities by providing resources to the real sector and thus, making significant contributions to the economy of the country, has been awarded gold, silver and bronze medals on various dates by public institutions and trade associations such as the Undersecretariat of Treasury and Foreign Trade, Istanbul Chamber of Commerce and Istanbul Ready Made Garment Exporters' Association for the success it has shown in the field of exports. Kuveyt Turk, in parallel to its vision of becoming an international finance house, is preparing to open branch and representative offices abroad as well. The 2000s, which is an age of Information Technology, compel the finance houses to operate in a more technology intensive manner. Kuveyt Turk has established the information and technology infrastructure required at the highest level. It offers all banking services through Electronic Banking and Alternative Delivery channels in the best way. Together with VISA credit card and the Palmiye Installment Shopping Card services, POS and member merchant services, Internet banking, call center, interactive voice response system and SMS banking services are presented continuously. The permanent change project aiming at carrying the modern management techniques and management and service concept of the 2000s to the body of the company with the young and dynamic service staff, almost all of whom are university graduates and experts in their fields and expert consulting staff, its sound capital structure and economic power, make Kuveyt Turk the leader of the Participation Banks in Turkey.
Volume
  • Placement amount
    200,000,000 USD
  • Outstanding amount
    200,000,000 USD
  • Outstanding face value amount
    200,000,000 USD
Face value
  • Minimum Settlement Amount
    200,000 USD
  • Outstanding face value
    *** USD
  • Increment
    *** USD
  • Face value
    1,000 USD
Listing
  • Listing
    ***

Cash flow parameters

  • Variable rate type
    Fix to Float
  • Reference rate
  • Coupon Rate
    ***
  • Day count convention
    ***
  • Business Day Convention
    Following Business Day
  • Interest Accrual Date
    ***
  • Coupon frequency
    *** time(s) per year
  • Payment currency
    ***

Cash flow

Calculations for international bonds are made according to the minimum trading lot

Early redemption terms

***

explore the most comprehensive database

800 000

bonds globally

Over 400

pricing sources

80 000

stocks

9 000

ETF

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— Are you looking for the complete & verified bond data?

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Why

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Placement

  • Placement method
    Open subscription
  • Placement type
    Public
  • Placement
    ***
  • Geographic breakdown
    ***
  • Investor breakdown
    ***
  • The purpose of placing
    The net proceeds of the Certificates will be paid by the Trustee (as Rab-al-Maal) to the Bank (as Mudareb) as contribution of the Mudaraba Capital pursuant to the terms of the Mudaraba Agreement.
Participants
  • Bookrunner
    ***
  • Arranger Legal Adviser (Domestic law)
    ***
  • Arranger Legal Adviser (International law)
    ***
  • Issuer Legal Adviser (Domestic law)
    ***
  • Issuer Legal Adviser (International law)
    ***

Conversion and exchange

  • Conversion terms
    ***

Covenants

  • Change of Control

    ***

  • Collective Action Clause

    ***

  • Covenant Suspension/Fall-Away

    ***

  • Cross Default

    ***

  • Designation of Restricted and Unrestricted Subsidiaries

    ***

  • Events of Default

    ***

  • Financial Covenants

    ***

  • Limitation on Business Activities

    ***

  • Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries

    ***

  • Limitation on Indebtedness

    ***

  • Limitation on Investments

    ***

  • Limitation on Liens

    ***

  • Limitation on Restricted Payments

    ***

  • Limitation on Sale of Assets

    ***

  • Limitation on Sale/Leaseback

    ***

  • Limitation on Subsidiary Debt

    ***

  • Limitation on layering (anti-layering)

    ***

  • Limitations on transactions with affiliates

    ***

  • Merger Restrictions

    ***

  • Others

    ***

  • Rating Trigger

    ***

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Additional information

Latest issues

IFRS/US GAAP reports

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2020
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2018
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Identifiers

  • ISIN RegS
    XS2028862998
  • CUSIP RegS
    ***
  • CUSIP 144A
    ***
  • Common Code RegS
    202886299
  • CFI RegS
    DAFNQR
  • FIGI RegS
    BBG00PPPKSW2
  • Ticker
    KFINKK V9.13 PERP
  • Type of security by CBR
    ***

Ratings

Bond classification

  • Subordinated Unsecured
  • Registered
  • Coupon bonds
  • Variable rate
  • Perpetual
  • Subordinated
  • Sukuk
  • Amortization
  • Callable
  • CDO
  • Convertible
  • Dual currency bonds
  • For qualified investors (CIS region)
  • Foreign bonds
  • Green bonds
  • Guaranteed
  • Inflation-linked principal
  • Supranational bond issues
  • Inflation-linked coupon
  • Mortgage bonds
  • Payment-in-kind
  • Non-Marketable Securities
  • Redemption Linked
  • Restructuring
  • Retail bonds
  • Covered
  • Securitization
  • Structured product
  • Commercial Bonds
  • Trace-eligible

Restructuring

***

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