Turkiye Garanti Bankasi A.S. Issues Subordinated Eurobond and Tender Offer

Turkiye Garanti Bankasi A.S. (TGBD) has announced the issuance of subordinated notes denominated in U.S. dollars. The issuance complies with Basel III standards and targets institutional investors outside Turkey. Notable financial institutions such as Banco Bilbao Vizcaya Argentaria, S.A, Citigroup Global Markets Limited, and Standard Chartered Bank are among the banks mandated for this issuance.

Additionally, Garanti Bank has launched a cash tender offer for Tier 2 bonds with a total nominal value of USD 750 million, maturing in 2027. This tender offer is facilitated by Banco Bilbao Vizcaya Argentaria, S.A., and Standard Chartered Bank, among others, authorized to manage the redemption process.

This strategic financial move indicates Garanti Bank's ongoing efforts to optimize its capital structure and strengthen its financial capabilities internationally.