Regarding the Applications to the Capital Markets Board for the Mortgage Covered Bond Issuance
Regarding the Applications to the Capital Markets Board for the Mortgage Covered Bond Issuance
Reference 1: Garanti Bank Public Disclosure Dated May 20, 2015
Reference 2: Garanti Bank Public Disclosure Dated July 20, 2017
Via our public disclosure dated May 20, 2015 it was announced that The Mortgage Covered Bond Programme, which enables the Bank to issue mortgage covered bonds outside Turkey, up to Euro 5 billion or its equivalent in other currencies, with fixed and/or floating interest rate, had been established on May 15th, 2015.
Via our public disclosure dated July 20, 2017 it was announced that our Bank has signed an agreement to secure financing in the amount of EUR 75 million equivalent to Turkish Lira, with 5 years maturity from European Bank for Reconstruction and Development (EBRD) under Covered Bond Programme.
As per the resolution of the Bank's Board of Directors dated November 3rd, 2016, the Head Office has been authorized to apply CMB and BRSA for the renewal of mortgage covered bonds issuance approval 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, the application process to CMB in order to issue covered bond to be sold to EBRD has been completed.