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ISTANBUL - Turkiye Garanti Bankasi (IS:GARAN) A.S. (TGBD) announced Friday that it has completed the early redemption of a $150 million medium-term note (MTN) after the investor exercised their put option.
The bank had previously disclosed on October 28, 2024, that it had completed the sale of the notes with a 368-day maturity. The notes, which carried the ISIN code XS2929970437, were redeemed on July 24, 2025, ahead of their original maturity date.
According to the statement released by Garanti BBVA (BME:BBVA), the early redemption occurred when the investor decided to use the put option that was included in the terms of the notes.
Put options give investors the right to sell securities back to the issuer before the scheduled maturity date, typically at a predetermined price.
The bank confirmed that the transaction has been completed in accordance with regulatory requirements. The information was shared in a regulatory announcement transmitted through EQS Group.
Garanti BBVA is one of Turkey’s largest private banks and operates as part of the BBVA Group, a global financial services organization.
The announcement was made in a press release statement from the bank’s investor relations department.
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