Turkey sells $2.5 billion in 5-year sukuk

DUBAI, June (Reuters) – Turkey sold $2.5 billion in five-year sukuk on Tuesday after the Islamic bonds drew more than $9.3 billion in orders, a document detailing the transaction showed.

The Turkish government U.S. dollar-denominated sukuk were sold at 5.125%, tightened from an initial price guidance of around 5.5%, the document from one of the banks on the deal showed.

Dubai Islamic Bank (DISB.DU), Emirates NBD Capital (ENBD.DU), HSBC (HSBA.L) and Standard Chartered (STAN.L) arranged the deal.