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ISTANBUL - Turkiye Garanti Bankasi A.S. (TGBD) has received approval from Turkey’s Capital Markets Board (CMB) for two bond issuances totaling €40 million under its Global Medium Term Notes (GMTN) program, according to a press release statement.
The bank disclosed that it received the CMB issuance certificates for two euro-denominated bonds that were issued on Tuesday. The first bond (ISIN:XS3195123065) amounts to €25 million with maturity set for October 12, 2026, while the second bond (ISIN:XS3194151653) totals €15 million and will mature on October 5, 2026.
These issuances are part of the GMTN program that Garanti BBVA established on April 19, 2013, which allows the bank to issue borrowing instruments in various currencies with different series and maturities.
Garanti BBVA, one of Turkey’s leading financial institutions, uses such bond issuances as part of its strategy to diversify funding sources and manage its capital structure. The bank stated that the information provided in its disclosure complies with the principles included in the Board’s Communiqué, Serial II Nr.15.1.
The bonds were issued to foreign markets as indicated by the announcement title, though specific target markets were not detailed in the press release.
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