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Garanti Bank receives approval for USD bond issuance

Published 23/12/2024, 07:56
Garanti Bank receives approval for USD bond issuance
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ISTANBUL - Turkiye Garanti Bankasi (IS:GARAN) A.S., commonly known as Garanti BBVA (BME:BBVA), has obtained approval from the Capital Markets Board (CMB) to issue bonds targeted at foreign markets. The approval, which was announced on Monday, allows the bank to proceed with the issuance under its Global Medium Term Notes (GMTN) program, established on April 19, 2013.

The GMTN program enables Garanti BBVA to issue borrowing instruments in various currencies with different series and maturities. The recent CMB certificate pertains to a bond with an ISIN of XS2967153524, issued on December 20, 2024, with a maturity date of December 22, 2025. The bond is denominated in US dollars with a nominal amount of $12 million.

This move is part of Garanti BBVA’s broader strategy to diversify its funding sources and enhance its presence in international capital markets. The bank has emphasized that the information provided complies with the principles included in the Board’s Communiqué, Serial II Nr.15.1, and accurately reflects the bank’s records and documents.

The bank also stated that in case of any discrepancies between the Turkish and English versions of this public disclosure, the Turkish version shall prevail. This announcement is in line with regulatory requirements and has been shared with the investment community to maintain transparency.

This development comes as Turkish financial institutions continue to navigate a dynamic economic environment, seeking to expand their funding bases and mitigate risks associated with currency fluctuations. Garanti BBVA’s latest bond issuance is expected to offer investors an additional instrument for portfolio diversification.

Investors and stakeholders have been directed to contact Garanti BBVA’s Investor Relations for further information. The bank has provided contact details but has not disclosed any further plans regarding future issuances as part of the GMTN program.

It is important to note that this article is based on a press release statement from Garanti BBVA.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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