Garanti Bank raises EUR 68 mln in bond sale

Newsroom 28/05/2014 | 16:56

Garanti Bank, controlled by Turkish Turkiye Garanti Bankasi, has raised RON 300 million (EUR 68.2 million) by issuing nonguaranteed bonds with a 5-year maturity at an annual interest rate of 5.47 percent. The offer was opened on May 26 and closed one day later due to the full subscription.

The nominal value of the issued bonds amounted to RON 230 million (EUR 52.3 million) and the bank used the option to increase the amount to RON 300 million.

“The oversubscription to this bonds issue demonstrates the fact that the investors have high interest and great confidence in Garanti Bank and in our growth potential. We are happy with this transaction’s success, as it offers us a series of benefits, such as being able to diversify our financing sources and boost our client’s lending”, said Ufuk Tandogan, CEO of Garanti Group Romania.

The bank is currently working to put the bonds up for trading on regulated market of the Bucharest Stock Exchange.

BRD Groupe Societe Generale assisted Garanti on the bond sale.

Ovidiu Posirca

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