Turkiye Vakiflar Bankasi T A O : VakıfBank issued a new Eurobond amounting USD 600 million
March 29, 2019 at 05:57 pm EDT
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PRESS RELEASE
29.03.2019
VakıfBank issued a new Eurobond amounting
USD 600 million
Pioneer and innovative bank of Turkey in debt capital markets, VakıfBank issued a new Eurobond with 5 years maturity, amounting USD 600 million under the Global Medium Term Notes (GMTN) program. More than 150 international investors from all over the world showed great interest to the issue.
Stating that following a tough period like 2018, Turkish issuers entered into eurobond market actively in 2019, VakıfBank's CEO Mr. Mehmet Emin Özcan said, "Relieving concerns towards our country and national economy especially in the eyes of fixed income investors accompanied with successful transactions in eurobond market. Republic of Turkey Ministry of Treasury and Finance being in the first place, banks and corporate companies carried out quite successful transactions and in this period, total long term funding amount provided from international debt capital markets exceeded USD 10 billion. This amount remarks as the biggest amount in a quarterly basis so far. As the leading bank of strong Turkey, VakıfBank will continue to support the national economy through diversified funding structure and long term, cost-effective international funding sources.
"75% of the issuance was sold to the USA and UK based investors"
Remarking that more than 150 investors from all over the world showed interest in USD 600 million eurobond issuance, Mr. Özcan continued: "The total order book was almost doubled the issue size. High quality and strong demand of portfolio managers who are long term investors, especially resident in the USA and UK had a significant role in the success of the issue and the 75% of the eurobond transaction was sold to the investors, resident in these two countries. The issue amount was swapped into Euro in the same day and the transaction was closed with a Euro cost of below 5%. We are determined to preserve the leading position of VakıfBank in international banking."
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Turkiye Vakiflar Bankasi TAO published this content on 29 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 March 2019 21:56:12 UTC
Turkiye Vakiflar Bankasi TAO is a Turkey-based company, which provides a range of banking products and services. It offers its products and services through its corporate, commercial and Small and Medium Enterprises (SME) banking, as well as through its retail and private banking business lines. The Bank is also active in investment banking and capital markets, as well as provides a range of financial services including insurance, financial leasing and factoring through its financial subsidiaries. Its banking products include: time and demand deposit, accumulating account, repos, overdraft facilities, spot loans, foreign currency indexed loans, consumer loans, automobile and housing loans, working capital loans, discounted bills, foreign currency loans, pre-export loans, letters of guarantee, letters of credit, export factoring, acceptance credits, leasing, insurance, futures, salary payments, investment account, bill payments, tax collections and payment orders, among others.
TÜRKIYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIGI 
