Garanti BBVA gains approval for 50 billion TRY debt issuance

ISTANBUL - Turkiye Garanti Bankasi (IS:GARAN) A.S. (TGBD), a prominent Turkish bank, has received approval from the Capital Markets Board to issue up to 50 billion Turkish Lira (TRY) in debt securities. The announcement, based on a press release from the bank, comes after the bank’s application to the Banking Regulation and Supervision Agency and Capital Markets Board on September 13, 2024.

The approved "Capital Markets Instrument Note" allows Garanti BBVA (BME:BBVA) to issue various debt instruments, including but not limited to, fixed or floating rate bonds, debentures, credit linked notes, and other structured debt securities. These instruments may be offered through public offering, private placement, or sale to qualified investors within Turkey.

This development follows the bank’s initial declaration on September 25, 2022, regarding its intent to issue debt instruments. With the Capital Markets Board’s approval on February 26, 2025, the bank is now authorized to proceed with the issuance within a 1-year period.

The move is part of Garanti BBVA’s broader strategy to diversify its funding sources and enhance its capital structure. The issuance limit set at 50 billion TRY underscores the scale of the bank’s ambition in bolstering its financial instruments.

Investors and market watchers will be monitoring the uptake of these debt securities, which could influence the bank’s financial dynamics and potentially impact the broader Turkish banking sector.

Garanti BBVA assures that the information provided is in accordance with the principles of the Board’s Communiqué, Serial II Nr.15.1, and reflects accurate and complete information relative to the subject matter.

The bank’s statement emphasizes that the Turkish version of the disclosure will prevail in case of any contradictions with the English version. This development is based solely on the press release statement provided by Garanti BBVA.

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