Akbank completed its’ inaugural Basel-III compliant Additional Tier-I (AT-1) issuance to international capital markets investors, which marks a first in Turkiye. The U.S $ 600 million bonds with perpetual maturity with a call option in year 5, were priced to yield 9.37%. The deal received peak demand of U.S$ 3.7 billion from around 200 foreign-based investors.

SUZAN SABANCI 

According to Akbank’s Chairperson Suzan Sabancı; “As Akbank, we are proud to pioneer such a transaction thanks to our reputation and the trust we have built. We believe the interest for our deal proves the confidence in Türkiye’s economy management and banking sector

KAAN GÜR 

Akbank is one of the most well-capitalised banks in Turkiye. We expect a positive impact on our capital adequacy ratio of around 1.3%.” marked Akbank’s CEO, Kaan Gür.

Doğan Investment Bank facilitates the inaugural International Islamic Financing of Türkiye Wealth Fund, debut Murabaha financing from Sharjah Islamic Bank. Doğan Investment Bank facilitates the inaugural International Islamic Financing of Türkiye Wealth Fund, debut Murabaha financing from Sharjah Islamic Bank.

According to Mr. Gür, “We communicated Türkiye’s high economic potential, Turkish banking sector’s  and Akbank’s solid balance sheet to a wide range of international investors. Thanks to our strong capital and growth potential, around 200 investors, including institutional funds, asset managers and private banks, showed a total demand of U.S$ 3.7 billion in our deal. The U.S$ 600 million bond’s coupon has been set at 9.37%.  Our inaugural AT-1 bond, which is a first in CEEMEA in 2024, also marks lowest subordination premium for any AT-1 issuance out of Türkiye.”

Editör: MURAT ÖZER