Fibabanka has announced the successful completion of a USD 150 million Additional Tier 1 (AT1) bond issuance, attracting substantial demand from international investors. Citibank and Standard Chartered Bank led the issuance as Joint Global Coordinators and Bookrunners, with Emirates NBD acting as a Joint Bookrunner.
The bank confirmed the completion of its USD 150 million AT1 issuance, with a yield set at 10.25%. The Basel III-compliant PNC5.5 AT1 Fixed Rate Resettable Reg S Only Offering, managed by Citi, Standard Chartered, and Emirates NBD, was oversubscribed three times.
Speaking about the success, Ömer Mert, General Manager and Board Member of 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.”
Strengthening the Turkish Economy
Mert also noted that the issuance not only strengthens Fibabanka’s capital structure but also showcases positive sentiment towards Türkiye’s economy from the global investment community. “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.
This successful issuance strengthens Fibabanka’s competitive position in global capital markets, while highlighting the growing significance of Türkiye’s financial sector. The strong demand from investors underscores the critical role of foreign capital in Türkiye’s economic growth.