Last Updated on: 7th October 2024, 04:15 pm
Fibabanka has raised USD 150 million in Additional Tier 1 (AT1) capital after successfully completing a bond issuance that saw strong demand from international investors. The transaction was led by Citibank and Standard Chartered Bank as Joint Global Coordinators and Bookrunners, with Emirates NBD joining as Joint Bookrunner.
The bank confirmed that it raised USD 150 million in a debt issuance, which qualifies as AT1 capital, offering a yield of 10.25%. The Basel III-compliant PNC5.5 AT1 Fixed Rate Resettable Reg S Only Offering, managed by Citi, Standard Chartered, and Emirates NBD, was oversubscribed three times.
Ömer Mert, General Manager and Board Member of Fibabanka, said: “We are very proud to have led the first-ever public sub-benchmark AT1 offering out of Türkiye. The high level of interest from international investors, driven by our strong financial performance and strategic vision, clearly reflects the confidence investors have in both Fibabanka and the wider Turkish banking sector.”
Global Confidence in Turkish Economy
Mert also highlighted that the issuance strengthens Fibabanka’s capital base and reflects a positive global outlook on Türkiye’s economic prospects. “This issuance not only strengthens our bank’s capital structure but also underscores the positive sentiment towards the Turkish economy on the global stage. We intend to continue to grow in both domestic and international markets, supported by our innovative product offerings and strong digital infrastructure,” he added.
The strong investor demand for Fibabanka’s bond further demonstrates its competitive position in the global financial markets, while highlighting the increasing role of foreign investment in driving Türkiye’s economic progress.
