
Turkey’s Isbank has successfully completed its first Additional Tier 1 (AT1) capital Eurobond issuance in international markets. Marking the first international issuance from Turkey in 2025, the $500 million Eurobond was issued with a coupon interest rate of 9.125%.
According to the bank’s statement, the issuance attracted demand totaling $1.5 billion, showcasing strong investor interest across a broad geographical area. The allocation of the Eurobonds was as follows:
- 41% to the United Kingdom
- 28% to Middle Eastern countries
- 21% to Europe
- 8% to the United States
- 2% to Asian countries
The investor composition included:
- 42% from funds and asset management companies
- 36% from banks
- 19% from hedge funds
- 3% from other investors
“Strengthening Our Balance Sheet While Supporting the Economy”
Hakan Aran, Isbank’s General Manager, expressed satisfaction with the transaction, stating:
“As we start a new year, we are pleased to initiate the international bond markets for Turkish issuers with this transaction. This issuance, which marks our first Additional Tier 1 capital borrowing, adds a new Eurobond type to our prior issuances.
In line with our historical mission, we have not only created foreign currency resources for Turkey’s economy—which we have passionately supported for a century—but also strengthened our balance sheet.
We recognize the importance of preparing our economy’s key drivers, particularly SMEs, for the evolving and digitized requirements of a sustainable future. By leveraging this additional capital resource, we will continue to serve the Turkish economy with unwavering dedication.”
Source: Bloomberght/ Prepared by: İlayda Gök