Norton Rose Fulbright advises Albaraka Türk Katılım Bankası A.Ş on a consent solicitation in respect of US$200 million Tier 2 Trust Certificates

Global law firm Norton Rose Fulbright has advised Albaraka Türk Katılım Bankası A.Ş. in connection with a consent solicitation made to the holders of the outstanding US$200,000,000 Tier 2 Trust Certificates due 2023 (the "Certificates").

The purpose of the consent solicitation was to seek the approval of certificate holders to modify the terms and conditions of the Certificates following the introduction of certain amendments to the Turkish Equity Regulation which resulted in the Certificates losing their eligibility for inclusion within ABT’s Tier 2 capital calculation. At the meeting of the holders of the Certificates held on 01 February 2017, the proposed amendments to the Certificates were approved.

Gregory Man, partner, Norton Rose Fulbright, commented:

"We were pleased to be able to assist Albaraka Türk in ensuring that their outstanding certificates can once again be included in the bank’s regulatory capital calculations in order to strengthen the capital position of the bank, for whom the outcome of the consent solicitation represents a great result".

The Norton Rose Fulbright team was led by partner Gregory Man (Dubai) with assistance from associate Tom Burke (Dubai).

For further information please contact:

Heledd Phelps-Brown, Head of PR
Tel +44 20 7444 2890; Mob +44 77 0297 1352
heledd.phelps-brown@nortonrosefulbright.com

Kate Farrell, PR Assistant
Tel +44 20 7444 3724; Mob +44 (0)7515 324 290
kate.farrell@nortonrosefulbright.com

Notes for editors:

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