Fibabanka, a prominent Turkish bank, has successfully secured USD 150 million through an Additional Tier 1 (AT1) bond issuance, receiving substantial interest from international investors. Citibank and Standard Chartered Bank acted as Joint Global Coordinators and Bookrunners, with Emirates NBD participating as a Joint Bookrunner.
The bank has confirmed that the USD 150 million AT1 capital raise carries a yield of 10.25%. The Basel III-compliant PNC5.5 AT1 Fixed Rate Resettable Reg S Only Offering was led by Citi, Standard Chartered, and Emirates NBD, and was three times oversubscribed.
Commenting on the success, Ömer Mert, General Manager and Member of Fibabanka’s Board of Directors, 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.”
Strengthening the Bank’s Capital Structure
Mert added that this issuance strengthens both Fibabanka’s capital structure and international confidence in Türkiye’s economy. “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 success of this issuance highlights Fibabanka’s strong position in international capital markets and showcases the vital role foreign capital plays in the continued growth of Türkiye’s economy.