Turkiye Garanti Bankasi A.S. Approves Issuance of Mortgage-Covered Bonds

Turkiye Garanti Bankasi A.S. (TGBD) announces the authorization for the issuance of mortgage-covered bonds. On November 5, 2024, the bank's Board of Directors approved the Head Office to initiate the necessary procedures for this financial transaction. The issuance can be conducted in one or more rounds with varying series and maturities. Both fixed and floating interest rates will be set based on market conditions at the time of issuance.

The authorized total amount is up to EUR 750 million or equivalent in other currencies, including Turkish Lira. These bonds will be sold outside Turkey, without requiring a public offering. This strategic decision aligns with current legislation, aiming to strengthen the bank's financial position. The bank assures that all presented information complies with regulatory standards and its internal documentation.