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Turkeys Garanti gets approval for TRY 42 billion debt securities
By Marisa Wong
Los Angeles, Nov. 10 Turkiye Garanti Bankasi AS (Garanti BBVA) said its board of directors has approved a plan to issue up to TRY 35 billion of debt instruments including, but not limited to, fixed- or floating-rate bonds.
The domestic instruments may be sold in one or more tranches with maturities of up to five years, according to a notice.
The board also approved up to TRY 7 billion of subordinated debt securities.
The tier 2 instruments may also be sold in one or more issuances.
The financial services company is based in Istanbul.
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