The sovereign wealth fund known as TWF is considering selling Islamic bonds for the first time, informed sources said.
Bloomberg News Agency quoted the sources today, Friday, as saying that the fund held talks with investment banks to determine the timing and size of the offering, noting that the fund aims to sell 5-year sukuk worth $500 million.
Earlier this year, the fund sold $500 million in five-year dollar bonds at a yield of 8.375%, with the total subscription value for that offering reaching $7 billion.
The Turkish government established the sovereign wealth fund in 2016 and gave it a mandate to make the huge investments that the private sector is reluctant to make.
He owns a group of assets that were transferred to him from the Turkish treasury, including shares in state banks, Turkish Airlines and the Turkish Stock Exchange.
