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Summary Info
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Application to CMB for the Issuance of Debt Instruments Abroad in Accordance with Additional Tier 1 Notes
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Update Notification Flag
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No
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Correction Notification Flag
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No
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Postponed Notification Flag
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No
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Subject of Notification
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Other
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Board Decision Date
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08.04.2025
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Currency Unit
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USD
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Limit
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1.000.000.000
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Issue Limit Security Type
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Subordinated Debt Securities
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Sale Type
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Oversea
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Domestic / Oversea
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Oversea
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Capital Market Board Approval Date
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08.05.2025
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Capital Market Instrument To Be Issued Info
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Type
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Subordinated Debt Securities
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Maturity Date
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26.12.2035
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Maturity (Day)
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3.835
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Sale Type
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Oversea
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Does the issuer have a rating note?
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Yes
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Issuer Rating Note
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Rating Company
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Rating Note
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Rating Date
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Is it Investment Grade?
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Fitch Ratings
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AA(tur) (Durağan) / Ulusal Uzun Vadeli Not-(Stable) / (National Long-Term Rating)
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18.06.2025
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Yes
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Does the capital market instrument have a rating note?
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No
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Does the originator have a rating note?
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No
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Reference: Public disclosures on 06/20/2025. The issuance certificate application has been made to the Capital Markets Board for the issuance of debt instrument abroad, amounting to USD 700 million. Coupon rate of AT1 Notes has been set at 9.30% and issuance of the notes will be completed on 26 June 2025. In this regard, the Additional Tier 1 Notes have the call option subject to approval of the BRSA in all option dates mentioned below. The first call option can be exercised from 26 June 2030, corresponding to the 5th year of issuance, until 26 December 2030. In case our Bank does not exercise the call option, there is a call option on every semi-annual coupon payment date thereafter. Additional Tier 1 Notes are perpetual. However, the maturity date is entered as 12/26/2035 in order to register the notes in the Central Securities Depository's (MKK) system. In case of any contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
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