Turkiye Garanti Bankasi A.S. Sets Coupon Rate for Subordinated Debt

Turkiye Garanti Bankasi A.S. has announced the coupon rate for its subordinated debt securities. The securities are valued nominally at TRY 252,880,000 with a maturity of 3651 days. These bonds, meeting Tier 2 capital criteria, have their coupon payments indexed to the BIST TLREF index and are set at 13.7949% for the twentieth installment.

The original board decision to issue these securities was made on July 30, 2019, with a currency limit set in TRY for a total of 7,000,000,000 up to 20,000,000,000. Offering is primarily domestic and targeted at qualified investors. The bonds, identified by ISIN code TRSGRANE2915, mature on October 7, 2029, with a redemption date set for October 8 of the same year.