Since 2017, Akbank has issued four Tier 2 eurobonds totalling USD 1.700 million.
| US00972BAB53/XS1574750292 |
15.03.2017 |
16.03.2027 |
USD |
500 |
7.2 |
Irish Stock Exchange |
 |
| US00972BAC37/XS1772360803 |
20.02.2018 |
27.04.2028 |
USD |
400 |
6.8 |
Irish Stock Exchange |
|
| US00971YAJ91/XS2355183091 |
22.06.2021 |
22.06.2031 |
USD |
500 |
6.8 |
Irish Stock Exchange |
|
| XS2611747234 |
25.08.2023 |
25.08.2033 |
USD |
75 |
9.6 |
Vienna Stock Exchange |
|
| XS2611752663 |
25.08.2023 |
25.08.2033 |
USD |
75 |
9.6 |
Vienna Stock Exchange |
|
| XS2611752317 / XS2659197151 |
25.08.2023 |
25.08.2033 |
USD |
150 |
9.6 |
Vienna Stock Exchange |
|
- March 2017 –. 10NC5, Basel III, USD 500 million Tier 2:
- First conventional subordinated bank-capital bond issuance out of Turkey since April 2016.
- Debut subordinated bond offering by Akbank in 2017.
- Akbank paved the way for subsequent issuances of the peers in 2017 and pioneered the Turkish banking sector once again.
- The final book attracted c. USD 2 billion from 180 investors indicating a 4x oversubscription.
- Tightest Senior vs. Tier 2 spread differential at issue in Turkey as of transaction date.
- Largest order book for a Turkish Basel III compliant Tier 2 Bond as of transaction date.
- In march 16 2022, Akbank successfully called its Tier2 (US00972BAB53/ XS1574750292) issuance
- February 2018 –10 NC5, Basel III, USD 400million Tier 2:
- In April 27 2023, Akbank successfully called its Tier 2 (US00972BAC37/XS1772360803) issuance.
- Lowest Basel III compliant T2 spread to mid-swaps ever recorded in Turkey (+403bps).
- Successfully priced transaction amid volatile market conditions during live execution, at minimal New Issue Premium.
- June 2021 – 10NC5, Basel III, USD 500 million sustainable Tier 2:
- Akbank became the first deposit bank in the Turkish banking sector to issue sustainable subordinated debt.
- The final book attracted c. USD 1.4 billion from more than 150 investors indicating a nearly 3x oversubscription.
- The regional breakdown of the investors: 35% are from the United Kingdom, 30% from the United States (Americas), 30% from Europe and the remaining 5% from the Middle East and Asia.
- 39% of total investors consist of ESG (sustainable debt instruments focused) investors
- July 2023 - 10NC5, Basel III, USD 300 million Sustainability and Gender Tier 2 with AIIB, DFC and IFC:
- Akbank has completed its second issuance of sustainable T2 bonds, following the first issuance in 2021.
- After Akbank’s 2021 issuance, this is the first Tier 2 issuance in Turkish DCM.
- The issuance with U.S. International Development Finance (“DFC”) is labeled world’s first Gender Bond in Tier 2 format, with subscription of US$150 million.
- Each of Asian Infrastructure and Investment Bank (“AIIB”) and the International Finance Corporation (“IFC”) subscribed to US$75 million, reaching a total of US$150 million of Sustainable T2 bonds.
Subdebt- Investor Breakdown*
* Calculated according to initial allocation