Fibabanka has announced the successful completion of a USD 150 million Additional Tier 1 (AT1) capital issuance, which attracted considerable demand from global investors. The issuance was led by Citibank and Standard Chartered Bank as Joint Global Coordinators and Bookrunners, with Emirates NBD as Joint Bookrunner.
The bank reported it has secured USD 150 million through an AT1 bond offering with a 10.25% yield. The Basel III-compliant PNC5.5 AT1 Fixed Rate Resettable Reg S Only Offering was managed by Citi, Standard Chartered, and Emirates NBD, and was three times oversubscribed.
Speaking about the achievement, Ömer Mert, General Manager and Board Member at 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.”
International Confidence in Turkish Economy
Mert also stated that the bond issuance strengthens both the bank’s capital structure and 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 oversubscription of Fibabanka’s AT1 issuance highlights the bank’s competitive position in global financial markets and demonstrates the increasing confidence of foreign investors in Türkiye’s economic growth.
