Turkish energy company Zorlu Enerji said it has decided to issue TRY100 million (US$39 million) in five-year lease certificates.
The company will issue the lease certificate through a private placement in the domestic market according to an announcement on the Public Disclosure Platform on the 31st December 2014. The company announced that an application for permission has been submitted to the Energy Market Regulatory Authority and the details of the application to be made to Capital Market Boards will be announced in the future.
Zorlu Enerji, part of local conglomerate Zorlu, is active in the design, installation and operation of power plants as well as electricity sales through its subsidiaries. The company also explores, produces and distributes natural gas in Turkey.
Sukuk issuance of Turkiye Finans and its affiliate TFKB Varlık Kiralama
Turkiye Finans and its affiliate TFKB Varlık Kiralama have completed their five-year Sukuk issuance in the amount of TRY71 million (US$29.56 million) on the 2nd January 2015. Derya Gürerk, the general manager of Turkiye Finans, stated that Turkiye Finans is proud of supporting and providing new instruments to the market. Gürerk also stated that they will continue to focus on Sukuk in the future and will aim to introduce Sukuk to their customers and explain to them that this new funding method will contribute to both the Turkish economy and the investors in the market.
Ali Ceylan is a partner at Baspinar & Partners Law Firm. He can be contacted at [email protected] .