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Summary Info
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Announcement regarding the issuance of subordinated bond (Tier 2) abroad
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Update Notification Flag
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No
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Correction Notification Flag
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Yes
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Postponed Notification Flag
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No
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Subject of Notification
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Completion of the Sale
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Reason of Correction
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Updating of Currency Unit in Capital Market Instrument To Be Issued Info
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Board Decision Date
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13.06.2024
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Currency Unit
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USD
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Limit
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5.000.000.000
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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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29.02.2024
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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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05.10.2034
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Maturity (Day)
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3.744
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Sale Type
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Oversea
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The country where the issue takes place
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İrlanda
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Central Securities Depository
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Euroclear/Clearstream, DTC
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Ending Date of Sale
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26.06.2024
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Nominal Value of Capital Market Instrument Sold
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700.000.000
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Maturity Starting Date
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26.06.2024
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Issue Exchange Rate
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1
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Interest Rate Type
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Fixed Rate
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Traded in the Stock Exchange
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No
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Payment Type
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Foreign Exchange Payment
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ISIN Code
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XS2850573374
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Coupon Number
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1
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Currency Unit
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USD
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Coupon Payment Frequency
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Single Coupon
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Redemption Plan of Capital Market Instrument Sold
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Coupon Number
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Payment Date
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Was The Payment Made?
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1
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05.10.2034
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Principal/Maturity Date Payment Amount
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05.10.2034
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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 Rating
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B (Pozitif) - Uzun Vadeli YP Kredi Notu
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15.03.2024
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Yes
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Does the capital market instrument have a rating note?
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Yes
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Capital Market Instrument 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 Rating
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CCC+ (Yabancı Para Katkı Sermayeye Dâhil Edilebilir Borçlanma Aracı Kredi Notu)
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26.06.2024
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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: VakıfBank Public Disclosure Dated June 26, 2024 It was announced with the referred disclosure that the Bank had authorized a consortium of international banks and that the issuance of USD denominated subordinated bonds that can be included in the Tier 2 capital calculation would be evaluated. The process of collecting demand from international bond investors for the aforementioned Tier 2 subordinated notes issuance has been completed. The subordinated bond with a nominal amount of USD 700 million and a maturity date of October 5, 2034, with a call option on October 5, 2029, a fixed interest rate, a 10-year term, and semi-annual interest payments, has been set with a coupon rate of 9.00%. According to the CMB legislation, in case of a contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
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