Yapı Kredi Leasing Completes Its First Sukuk Issuance Worth 250 Million TL
Foreks - Yapı Kredi (IS:YKBNK) Leasing, a pioneering institution in the financial leasing sector, successfully completed its first lease certificate (sukuk) issuance of 250 million TL with a maturity of 190 days on December 18, 2024, after completing the demand collection process.
The sukuk issuance, carried out through Turkey Emlak Katılım Bankası A.Ş., the authorized investment institution, and its 100% subsidiary Emlak Varlık Kiralama A.Ş., received strong interest and demand from investors.
Yapı Kredi Leasing had conducted a management contract on November 22, 2024, as part of a 3 billion TL issuance ceiling through Emlak Varlık Kiralama A.Ş., approved by the Capital Markets Board. In this first lease certificate transaction based on that management contract, a leasing portfolio consisting of fixed assets such as machinery and equipment was used as the underlying asset for the sukuk issuance.
Fatih Torun, General Manager of Yapı Kredi Leasing, stated that they always strive to be one step ahead in meeting the needs and demands of their customers, saying: “While maintaining our leadership in the sector, we continue our efforts for access to alternative financing sources without interruption. In this context, due to the significant alignment of our commercial activities with the principles of participation finance, we see the sukuk instrument not only as a strategic financing tool contributing to the sustainable growth of our company but also as a step that brings an innovative vision to the sector. With this vision, we have once again reinforced our pioneering role in the industry. By taking this step, we aim to diversify access opportunities to capital markets, adding value to the financial ecosystem and providing leasing services to a broader audience. As Yapı Kredi Leasing, we will continue to develop innovative and sustainable solutions with our expert team to further strengthen the awareness and volume of our sector, while providing the best service to meet our customers' needs.”