Fibabanka has secured USD 150 million in Additional Tier 1 (AT1) capital, following a highly successful bond issuance that attracted substantial demand from international investors. Citibank and Standard Chartered Bank acted as Joint Global Coordinators and Bookrunners, with Emirates NBD also participating as a Joint Bookrunner.
The bank has announced the completion of its USD 150 million AT1 issuance with a yield of 10.25%. The transaction, compliant with Basel III regulations and structured as a PNC5.5 AT1 Fixed Rate Resettable Reg S Only Offering, was managed by Citi, Standard Chartered, and Emirates NBD, and was oversubscribed threefold.
Commenting on the achievement, Ömer Mert, General Manager and Board Member of Fibabanka, stated: “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.”
Confidence in Türkiye’s Economy
Mert highlighted that the success of this issuance strengthens the bank’s capital base and reflects positively on the global perception of Türkiye’s 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.
The successful bond issuance reaffirms Fibabanka’s strong position in global financial markets, showcasing the resilience of Türkiye’s financial system. The high demand from investors underscores Türkiye’s rising prominence in the global market and the importance of foreign investment to its economic progress.
