Anadolubank has successfully completed its first subordinated bond issuance in international markets, raising $150 million.
The initial yield expectation for the issuance was around 9.50%, but due to strong demand, the final yield was priced at 9.125%. This marks Anadolubank’s first-ever bond issuance in international capital markets.
According to the bank’s statement, the initial yield level of 9.50% was revised down to 9.125% following high investor interest. The bond issuance saw demand nearly three times the offered amount.
The issuance was structured with a 10-year maturity and an early redemption option at the end of the fifth year. Goldman Sachs International was mandated for the transaction.
Anadolubank stated that this bond issuance aims to further enhance its support for SMEs.
Commenting on the development, Anadolubank CEO Suat Ince emphasized that the bank will continue strengthening its presence in international markets in the coming period.
Source: Bloomberght/ Prepared by: İlayda Gök