Turkiye Garanti Bankasi A.S. Announces Issuance of Subordinated Debt Securities

On September 5, 2024, Turkiye Garanti Bankasi A.S. (Garanti BBVA) confirmed its Board of Directors' decision to issue subordinated debt securities. The total issue limit is set at TL 10 billion (Ten Billion Turkish Liras). The securities will be sold to qualified domestic investors.

This decision aligns with Article 8 of the Regulation on the Equities of Banks, allowing the securities to be included in Tier 2 Capital. The debt instruments will have various maturity dates and may be issued in coupon forms, either as fixed or floating rate bonds. Market conditions will determine the specific terms, including interest rates.

The Bank's Head Office has been authorized to manage the issuance process, including setting the maturity dates, interest rates, and engaging with intermediaries. Necessary submissions will be made to regulatory bodies like the Banking Regulation and Supervision Agency and the Capital Markets Board.