Turkiye Garanti Bankasi A.S. Secures Approval for Debt Issuance

Turkiye Garanti Bankasi A.S. announced that the Capital Markets Board (CMB) has approved its application to issue subordinated debts. This decision allows the bank to proceed with the issuance of debt instruments that can be included in equity calculations, amounting to a total of up to $6 billion, or the equivalent in Turkish Lira or any other foreign currency. The issuance will be conducted outside Turkey without a public offering.

The debt instruments will include various series and maturities with fixed or floating interest rates, determined by market conditions at the issuance time. The Board of Directors initially resolved this course of action during its meeting on February 6, 2025, with the CMB application initiated on April 16, 2025.