Akbank successfully completed the issuance of a USD 600 million Basel-III compliant Additional Tier-I (AT-1) issuance to international capital markets investors with a maturity of perpetual non-call 5,5 years. The issuance has achieved a coupon of 7,95%, becoming the first Turkish AT1 issuance with a coupon lower than 8%. This transaction follows Akbank’s inaugural AT-1 issuance in 2024, which was the first in Türkiye. The deal received peak demand of over USD 3.1 billion. Following price revisions, the issuance was completed with an orderbook of USD 2.6 billion and finally allocated to 97 international investors, 30.3% based in the United Kingdom, 29.1% in the USA, 21.4% in Europe, 14.3% in Middle East and 5% in Asia.
In his statement, Akbank CEO Kaan Gür has noted “We are proud to have reinforced Akbank’s strong reputation in the international markets through our successful eurobond issuance. Backed by Akbank’s strong capital, solid balance sheet, and growth potential, 97 international investors including institutional funds, asset managers and private banks participated in transaction. The issuance attracted peak demand surpassing USD 3.1 billion. With this issuance, we will further reinforce our already strong capital adequacy while continuing to increase our support for the Turkish economy. The strong level of demand highlights investors’ continued confidence in the Turkish economy and banking sector.”