Turkey’s Fibabanka has completed a US$150 million AT1 issuance, led by Citibank, Standard Chartered Bank as joint global coordinators and bookrunners and Emirates NBD as joint bookrunner.
The US$150 million debt transaction qualifies as Additional Tier 1 (AT1) with a yield set at 10.25%. The Basel III-compliant PNC5.5 AT1 Fixed Rate Resettable Reg S Only Offering was three times oversubscribed.
Ömer Mert, general manager and member of the board of directors at 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.”
“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,” Mert added.
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