Türkiye’s Fibabanka has successfully raised USD 150 million through an Additional Tier 1 (AT1) issuance, which garnered significant interest from international investors. The issuance was managed by Citibank and Standard Chartered Bank as Joint Global Coordinators and Bookrunners, with Emirates NBD serving as Joint Bookrunner.
Fibabanka has announced the conclusion of a USD 150 million AT1 capital raise, with a 10.25% yield. The 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.
Discussing the accomplishment, Ömer Mert, General Manager and Member of the Board of Directors at Fibabanka, commented: “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.”
Positive Sentiment Towards Turkish Economy
Mert further explained that the issuance not only bolsters the bank’s capital structure but also reflects global confidence in the Turkish 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 said.
The success of this issuance reinforces Fibabanka’s standing in international capital markets and highlights the strength of Türkiye’s financial sector. The strong investor demand underscores the pivotal role of foreign capital in driving Türkiye’s economic development.
