Garanti BBVA completes $125 million bond issuance
Garanti BBVA has completed a $125 million sustainable subordinated bond issuance with IFC and German development finance institution DEG.
The Tier II bond has a 10-year maturity with a call option starting from the fifth year. Proceeds from the transaction will be used to support the bank’s capital structure.
The funding is also planned to support green and social investments. Microenterprises and SMEs will receive financing for green investments such as electric vehicles, energy-efficient equipment and technologies, while access to finance for women-led SMEs will also be expanded. Garanti BBVA said the transaction is part of its strategic partnerships with international financial institutions.
Comments