Turkey’s Fibabanka cancels exchange offer for 2027 notes

By William Gullotti

Buffalo, N.Y., Oct. 21 – Fibabanka AS terminated its offer to holders of its outstanding $300 million fixed-rate resettable tier 2 notes due 2027 (ISIN: XS1386178237) to exchange up to $75 million aggregate principal amount of their existing notes for new dollar-denominated fixed-rate resettable tier 2 notes due 2033 and callable from 2027 (ISIN: XS2543175439), according to an announcement on Friday.

Further details regarding the bank’s choice to terminate the offer were not disclosed in the announcement. Requests for further information may be directed to the dealer managers or the exchange agent.

The dealer managers are Nomura International plc (+44 20 710 32454, +44 20 7103 2410, liability.management@nomura.com) and Standard Chartered Bank (+44 20 7885 5739, liability_management@sc.com).

The exchange agent is Morrow Sodali Ltd. (fibabanka@investor.morrowsodali.com; https://projects.morrowsodali.com/fibabanka; +44 20 4513 6933, +852 2319 4130).

Fibabanka is an Istanbul-based bank.

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