Türkiye’s Fibabanka successfully completed a USD 150 million AT1 issuance, which received substantial demand from international investors. The issuance was led by Citibank, Standard Chartered Bank as Joint Global Coordinators and Bookrunners and Emirates NBD as Joint Bookrunner.
ISTANBUL, TURKEY. October 7th, 2024 - Fibabanka announced that it has successfully closed a USD 150 million debt transaction which qualifies as Additional Tier 1 (AT1) with a yield set at 10.25%. The Basel III-compliant PNC5.5 AT1 Fixed Rate Resettable Reg S Only Offering which was led by Citi, Standard Chartered Bank and Emirates NBD was three times oversubscribed.
Commenting on the success of the issuance, Ömer Mert, General Manager and Member of the Board of Directors at Fibabanka, said: “We are very proud to have led the first-ever public sub-benchmark AT1 offering out of Türkiye. The high level of interest from international investors, driven by our strong financial performance and strategic vision, clearly reflects the confidence investors have in both Fibabanka and the wider Turkish banking sector.”
Positive sentiment towards the Turkish economy
“This issuance not only strengthens our bank’s capital structure but also underscores the positive sentiment towards the Turkish economy on the global stage. We intend to continue to grow in both domestic and international markets, supported by our innovative product offerings and strong digital infrastructure,” he added.
The success of this issuance underscores Fibabanka’s competitive positioning in global capital markets and further reinforces the strength of Türkiye’s financial sector. The strong investor demand highlights Türkiye’s growing presence in international markets and the crucial role of foreign capital in supporting the country's economic development.
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