Following discussions between our bank and Asian Infrastructure Investment Bank (AIIB), U.S. International Development Finance Corporation (DFC) and International Finance Corporation (IFC), the institutions have completed their internal credit and board approvals to invest in one or more tranches of Akbank's USD denominated subordinated debt (Tier-II) issuance/s.
Subsequently, Akbank's Board of Directors authorized the Head Office to start negotiation of the documents with the aforementioned institutions regarding the issuance of subordinated debt (Tier-II) up to USD 300 million with 10-year maturity callable at 5th year subject to market conditions.
In case of contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
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