Turkiye Garanti Bankasi A.S. Submits Green Bond Application

Turkiye Garanti Bankasi A.S. has initiated a significant move towards sustainable finance. The bank's Board of Directors authorized the issuance of green and/or sustainable bonds, subordinated debts, and other debt forms, capable of being included in equity calculations. This issuance could reach up to USD 2 billion or its equivalent in other currencies. The instruments will possess varying series and maturities with interest rates aligned with current market conditions.

The bonds are intended for sale outside Turkey without public offering, in accordance with a resolution during the Board's January meeting. Following this decision, an application was submitted to the Capital Markets Board. This initiative marks a pivotal step for Turkiye Garanti Bankasi in incorporating sustainability into its financial strategies.