İşbank issues USD 500 Million Tier 2 Eurobond

İşbank has successfully issued a USD 500 million Tier 2 Eurobond in the international markets, with an 11-year maturity and a call option at the end of the sixth year. Thanks to strong investor demand, the coupon rate was set at 7.575%, representing a tightening of 42.5 basis points from the initial price thoughts.

The transaction attracted broad interest from a diversified global investor base. Allocation by geography consisted of 39% to the UK, 30% to Middle East, 17% to Europe, 12% to the US and 2% to Asia. By investor type, the bonds were placed primarily with funds and asset management companies (42%), followed by banks (26%), hedge funds (20%), and insurance and pension funds (12%).

“A successful Eurobond issuance that once again confirms the confidence of international investors in Türkiye and our Bank."

Commenting on the transaction, İşbank CEO Hakan Aran stated that, despite heightened volatility in global markets driven by geopolitical developments, the Bank completed a highly successful Eurobond issuance that once again demonstrated the confidence of international investors in Türkiye and İşbank.

Aran added: “With the strong demand received from investors around the world, we are pleased to have both further strengthened our capital structure and brought USD 500 million of long-term external funding into the national economy. In line with the long-standing mission of our Bank, we will continue to utilize these funds to support the financing needs of our customers, with a particular focus on investment, employment and exports."