IFN OnAir
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IFN OnAir
Kayseri Seker's innovative agricultural Sukuk: a sweet deal
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Dr Menevse Ozdemir Diliduzgun, head of corporate finance and advisory at Halk Investment, and Ozgun Ozok, managing partner of Ozok Law Firm
Turkiye’s largest beet growers cooperative brand Kayseri Seker issued a TRY85 million (US$4.44 million) Sukuk in February 2022. The facility was the first Sukuk to use a quota of crystal sugar as an underlying asset and was also the first Sukuk issued by a cooperative in Turkiye. ISFI speaks to Dr Menevse Ozdemir Diliduzgun, the head of corporate finance and advisory at Halk Investment, and Ozgun Ozok, the managing partner of Ozok Law Firm, the legal advisor of the Sukuk, to learn more about this deal.
