Turkiye Garanti Bankasi Completes 17th Coupon Payment on Subordinated Debt Securities

Turkiye Garanti Bankasi A.S., a major Turkish bank, announced the completion of the seventeenth coupon payment on its subordinated debt securities designated for qualified investors. These debt securities, integral to the bank's Tier 2 Capital, have a nominal value of TRY 750,000,000 and feature a maturity period of 3653 days. The coupon payments are indexed to the BIST TLREF index and occur every three months.

The latest payment was made on May 14, 2024. This series of bonds, first issued on February 12, 2020, with a sale end date of February 13, 2020, is set to mature on February 14, 2030. Each bond within this issuance has been structured as a floating rate note (FRN) and has been exclusively sold to qualified investors, underscoring the bank's targeted financing strategy.