Turkiye Wealth Fund to hold bond investor meetings

Turkiye Wealth Fund to hold bond investor meetings

The Turkish Wealth Fund (TWF) is set to hold meetings with international lenders to discuss a potential dollar debt issuance in September, according to sources familiar with the matter. The fund aims to raise up to $500 million, marking its first debt sale this year [1]. The exact size and maturity of the planned issuance are yet to be finalized.

In addition to exploring debt markets, the TWF has been increasingly relying on loan financing. Earlier this month, it secured $600 million in murabaha financing from a consortium led by Kuwait Finance House, a type of financing compliant with Islamic rules [1]. The fund's five-year dollar note due in 2029 was trading around 105 cents on the dollar as of Tuesday.

The TWF was established in 2016 and mandated to take a lead role in making investments deemed too large for the private sector. It holds stakes in state lenders Turkiye Halk Bankasi AS and TC Ziraat Bankasi AS, as well as stakes in Turkish Airlines and the local stock exchange.

References:
[1] https://www.bloomberg.com/news/articles/2025-08-26/turkey-s-wealth-fund-plans-to-sell-dollar-bond-in-september