Announcement regarding CMB approval of covered bond issuance outside Turkey
Announcement regarding CMB approval of covered bond issuance outside Turkey
On its meeting held on October 9,2015, T. Garanti Bankası A.Ş. Board of Directors has authorized the Head Office to take the necessary actions, subject to market conditions, to arrange and sign the documents with regard to mortgage covered bond issuance in one or more tranches, with different series and maturities, and having fixed and/or floating interest rates to be determined at the issuance times, to the extent that the relevant legislation allows, up to EUR 2 billion in total or equivalent in any other currency including Turkish Lira, to be sold without public offering outside Turkey.
Accordingly, it was announced in the weekly bulletin of the Capital Markets Board (“CMB”) numbered 2016/10 that the application for mortgage covered bond issuance has been approved by the CMB.
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.