Akbank has successfully completed the issuance of a USD 500 million sustainability 10.5NC5.5 T2 bond to international capital markets investors, achieving a 7.875% yield. The total book size for the issuance reached approximately USD 1.4 billion, which indicates an oversubscription by 2.8 times. The geographical distribution of the issuance was allocated as follows: 43% to the UK and Ireland, 27% to Continental Europe, 20% to the Middle East, 8% to the USA, and 2% to Asia.
Akbank CEO Kaan Gür commented, “We are proud to announce the successful completion of our USD 500 million sustainability T2 bond issuance. We expect to have a 1% positive contribution on our CAR which is already well above the international standards. Our T2 issuance stood out as the transaction priced with the lowest risk premium among the T2 issuances by Turkish banks, and once again highlights strong confidence investors have for Akbank.”
Levent Çelebioğlu, Executive Vice President of Akbank’s Corporate and Investment Banking, added, “As Akbank, we have successfully issued a sustainability T2 bond. With this transaction, the share of sustainability-focused wholesale funding in Akbank's portfolio has increased to 71%. This issuance reinforces Akbank's strong reputation in international markets and underscores our commitment to sustainability goals.”