LSE welcomes TVF following landmark Sukuk issuance

LONDON

Türkiye Wealth Fund (TVF), the asset-backed development fund of Türkiye, marked its landmark $750 million Sukuk issuance in October 2024 during a Market Open Ceremony at the London Stock Exchange (LSE) on Feb. 27.

Arda Ermut, member of the Board of Directors and General Manager of the TVF, Ahmet Burak Dağlıoğlu, head of the Presidential Investment Office, senior executives of the LSE, as well as representatives of the banks and other institutions involved in the sukuk transaction, attended the event.

“We are pleased to be at the London Stock Exchange on this occasion, as our recent Sukuk issuance was an important milestone in our strategy to deepen our engagement with global financial markets. This achievement underscores the strength of Türkiye's economic prospects, and the confidence international investors have in our long-term vision,” said Ermut.

The Sukuk issuance, with a return rate of 6.95 percent, was oversubscribed by 14 times, setting a record in the history of Sukuk issuances.

Following the success, TVF executed a re-tap Sukuk issuance in January 2025, increasing the total size to $1 billion.

TVF became the first Turkish institution outside the Treasury and Turkish participation banks to issue Sukuk globally.

The Sukuk issuance was coordinated by Emirates NBD Capital, JPMorgan, and Standard Chartered, who played a pivotal role in the success of this landmark transaction.