Garanti BBVA Announces Subordinated Eurobond Issuance Project

On February 20, 2024, Garanti BBVA informed the investment community of its intention to issue a subordinated eurobond on an international scale. A syndicate composed of six prestigious banks, including BBVA, BofA Securities, ING, Mashreq, Morgan Stanley, and Standard Chartered Bank, has been authorized to hold meetings with investors in Asia, Europe, and the United States. These meetings, scheduled for the same day, aim to discuss market conditions and assess the possibility of issuing these notes denominated in USD dollars, compliant with Basel III, and classified as Tier 2 capital according to the Bank Capital Regulations.

Garanti BBVA emphasizes that this announcement is in line with the principles set forth in Council Announcement, Serial II Nr.15.1, and accurately reflects the information received and recorded by the bank. The bank ensures that it has obtained correct and complete information regarding this issuance and stands by the statements made therein. In case of discrepancies between the Turkish and English versions of this public announcement, the Turkish version shall prevail.