Turkiye Garanti Bankasi Announces Eighteenth Coupon Rate for Tier 2 Capital Debt Securities

Turkiye Garanti Bankasi A.S. (TGBD) has declared the eighteenth coupon rate of its subordinated debt securities targeted at qualified investors. The securities are valued at TRY 252,880,000 and have a 3651-day maturity period. This issuance is part of the bank's efforts to strengthen its Tier 2 Capital. Notably, these securities feature a 3-month coupon payment system that is indexed to the BIST TLREF index, with the new rate being set at 12.5565%.

The bank's strategic financial instrument was first introduced to the market on October 3, 2019, with the sale concluding on October 8, 2019. The maturity date is slated for October 7, 2029. Garanti Bankasi's approach reflects its adherence to the board's decision on July 30, 2019, and aligns with the related issue limit information governing the issuance of subordinated debt securities within the domestic domain, catered exclusively to qualified investors.

Throughout its issuance history, the securities have experienced varying rates, reflecting the fluctuations in the financial market and the BIST TLREF index. Payments have been consistent and aligned with the predetermined coupon numbers, showcasing Garanti Bankasi's commitment to fulfilling its obligations towards investors.