Regulator approves eight planned Emlak Katılım certificate tranches
The approvals cover domestic lease certificates for qualified investors, with Türkiye Emlak Katılım Bankası serving as the fund user.
Key takeaways
- The Capital Markets Board approved documents for eight planned lease-certificate tranches.
- The certificates are intended for qualified investors and can have terms of up to five years.
The Capital Markets Board approved documents for eight planned lease-certificate issues by Emlak Katılım Varlık Kiralama, KAP reported. The application was submitted on October 7 under an issuance ceiling of 50,000,000,000 TL that was approved in February.
The documents cover one 2,000,000,000 TL tranche, two of 1,500,000,000 TL, and single tranches of 500,000,000, 300,000,000, 200,000,000, 150,000,000 and 100,000,000 TL. The domestic certificates will be based on a management agreement, have terms of up to five years and be sold to qualified investors without a public offering.
Türkiye Emlak Katılım Bankası will act as the fund user and authorized investment institution. The approvals allow the planned issues to proceed, but do not mean the certificates have been sold or that funds have been received.
This article was produced with the help of AI technology. Source: Yahoo Finance
