Fibabanka, a leading Turkish bank, has successfully raised USD 150 million through an Additional Tier 1 (AT1) bond issuance that garnered substantial demand from international investors. The issuance was managed by Citibank and Standard Chartered Bank as Joint Global Coordinators and Bookrunners, with Emirates NBD as a Joint Bookrunner.
The bank confirmed that it has raised USD 150 million in AT1 capital at a yield of 10.25%. This Basel III-compliant PNC5.5 AT1 Fixed Rate Resettable Reg S Only Offering, led by Citi, Standard Chartered, and Emirates NBD, was three times oversubscribed.
Ömer Mert, General Manager and Board Member of Fibabanka, expressed his satisfaction with the issuance: “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 Türkiye’s Economic Position
Mert also highlighted how the bond issuance reinforces both the bank’s capital structure and the global confidence in Türkiye’s economic future. “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 oversubscription of Fibabanka’s bond issuance demonstrates the strength of the Turkish financial sector, and the significant role foreign capital plays in supporting the country’s economic growth.
