Turkiye Garanti Bankasi A.S. Announces 18th Coupon Rate for Subordinated Debt Securities

Turkiye Garanti Bankasi A.S. (TGBD) has set the eighteenth coupon rate for its subordinated debt securities. These securities amount to TRY 750,000,000 with a maturity of 3653 days and feature quarterly coupon payments. The coupon rate, indexed to the BIST TLREF index, is determined at 14.1836%.

This decision stems from the board's resolution dated July 30, 2019. The subordinated debt securities, included in Tier 2 Capital, are targeted at qualified investors through domestic sales. The issue limits were set at TRY 7,000,000,000 and TRY 20,000,000,000 for subordinated and general debt securities, respectively.

The bonds, identified by ISIN code TRSGRAN23013, have significant milestones. The sale started on February 12, 2020, and ended on February 13, 2020. The bonds mature on February 14, 2030, with periodic coupon payments and redemption due on the same date.