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ISTANBUL - Turkiye Garanti Bankasi (IS:GARAN) A.S. announced that an investor has exercised the put option on a $100 million medium-term note (MTN), leading to early redemption of the security on July 24, 2025.
The note, which carried an ISIN code of XS2930020297, had a 368-day maturity period and was originally issued on October 28, 2024, according to a statement from the bank. The security featured a puttable option, giving investors the right to demand early redemption before the scheduled maturity date.
Garanti BBVA (BME:BBVA), one of Turkey’s leading financial institutions, confirmed that the note has been fully redeemed following the investor’s decision to exercise the put option. The bank did not provide details regarding the reasons behind the investor’s decision to trigger the early redemption.
The announcement was made in a regulatory filing where the bank stated that the information provided complies with the principles included in the Board’s Communiqué, Serial II Nr.15.1, and accurately reflects the information received by the bank.
This transaction represents a standard exercise of embedded options within structured financial instruments, which allow investors flexibility in managing their investment portfolios.
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