The annual interest rate of the 5-year bond, which was demanded above the issuance amount, was 3.25 percent. Coupon payment will be made quarterly starting September 30, 2021.
The sale transaction took place on June 22, 2021, while the payment is expected on June 30, 2021. The conversion price of the bond will be determined at a premium of 27.5 percent, above the arithmetic average of the daily volume-weighted average prices of the share, starting from June 24, 2021, through a monitoring period of 15 trading days, until July 14, 2021.
In the issuance made for the first time in Turkey, BNP Paribas (in partnership with TEB Investment) served as the global coordinator, BNP Paribas and HSBC as joint brokerage houses, Göksu-Safi-Işık Attorney Partnership and White&Case LLP as legal advisor, and Quanta Finansal Danışmanlık as advisor.
Economist Magazine
June 23 2021
