Subordinated borrowing preparation at Akbank

Akbank is preparing to issue subordinated bonds.

As a result of the negotiations carried out by the Bank to the Public Disclosure Platform, Asian Infrastructure Investment Bank (AIIB), US International Development Finance Corporation (DFC) and International Finance Corporation (IFC) have agreed to one or more subordinated capital (contribution capital) to be issued by the bank in dollars. It has been stated that the approval processes from the authorized boards to invest in the bond issuance have been completed.

According to the statement made by the Bank, the General Directorate was authorized by the Board of Directors to initiate documentation negotiations with the relevant institutions for the issuance of 10-year subordinated bonds or bonds with the right to recall in the 5th year, up to a total amount of 300 million dollars, depending on the market conditions.