Fibabanka, a leading Turkish bank, has completed a USD 150 million Additional Tier 1 (AT1) capital raise, which garnered strong demand 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.
The bank confirmed the successful completion of the USD 150 million AT1 issuance with a yield of 10.25%. The Basel III-compliant PNC5.5 AT1 Fixed Rate Resettable Reg S Only Offering, led by Citi, Standard Chartered, and Emirates NBD, was oversubscribed by three times.
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 Outlook for Türkiye’s Economy
Mert further stated that the issuance strengthens Fibabanka’s capital base and reflects international 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 added.
This successful issuance reinforces Fibabanka’s position in global capital markets and underscores the crucial role of foreign capital in supporting Türkiye’s economic growth.