Summary Info
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Issuance of Additional Tier 1 Eurobond Abroad
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Update Notification Flag
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No
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Correction Notification Flag
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No
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Postponed Notification Flag
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No
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Subject of Notification
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Other
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Board Decision Date
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09.08.2023
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Currency Unit
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USD
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Limit
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2.000.000.000
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Issue Limit Security Type
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Subordinated Debt Securities
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Sale Type
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Oversea
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Domestic / Oversea
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Oversea
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Capital Market Board Approval Date
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14.09.2023
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Capital Market Instrument To Be Issued Info
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Type
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Subordinated Debt Securities
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Maturity Date
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14.06.2034
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Maturity (Day)
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3.744
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Sale Type
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Oversea
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Does the issuer have a rating note?
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Yes
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Issuer Rating Note |
Rating Company
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Rating Note
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Rating Date
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Is it Investment Grade?
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Fitch Rating
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A+(tur) - Ulusal Uzun Vadeli Notu
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22.09.2023
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Yes
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Does the capital market instrument have a rating note?
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Yes
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Capital Market Instrument Rating Note |
Rating Company
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Rating Note
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Rating Date
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Is it Investment Grade?
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Fitch Rating
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CCC (Yabancı Para İlave Ana Sermayeye Dâhil Edilebilir Borçlanma Aracı (AT1) Kredi Notu)
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05.03.2024
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No
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Does the originator have a rating note?
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No
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Reference a) Public disclosure dated 06.03.2024 b) Public disclosure dated 08.03.2024 The issuance certificate application has been made to the Capital Markets Board for the issuance of debt instrument abroad, amounting to USD 600.000.000. In this regard, the additional Tier 1 notes have the call option subject to approval of the BRSA in all option dates mentioned below. The first call option can be exercised from 14 March 2029, corresponding to the 5th year of issuance, until 14 June 2029. In case our Bank does not exercise the call option, there is a call option on every semi-annual coupon payment date thereafter. Coupon rate of AT1 notes has been set at 9.3686% and issuance of the notes will be completed on 14 March 2024. Additional Tier 1 Notes are perpetual. However, the maturity date is entered as 14.06.2034 in order to register the notes in the Central Securities Depository's (MKK) system. In case of contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
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