Turkiye Garanti Bankasi A.S. Announces Coupon Payment on Subordinated Debt

Turkiye Garanti Bankasi A.S. (TGBD) has announced the completion of the twentieth coupon payment on its subordinated debt securities. These securities, valued nominally at TRY 252,880,000, were issued for a term of 3651 days. The coupon payments are made quarterly, indexed to the BIST TLREF index.

The securities are part of the bank's Tier 2 capital, intended for sale to qualified domestic investors. The bond issuance began on October 3, 2019, and concluded on October 8, 2019. The maturity date for these bonds is set for October 7, 2029.

The board decision for this issuance took place on July 30, 2019. The limit for the subordinated debt securities was set at TRY 7,000,000,000, while the broader limit for debt securities is TRY 20,000,000,000.