Since 2017, Akbank has issued three Tier 2 eurobonds totalling USD 1.400 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 |
|
- 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 Tier 2 issuance.
- February 2018 –10 NC5, Basel III, USD 400million Tier 2:
- 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
Subdebt- Investor Breakdown*
* Calculated according to initial allocation