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Halkbank Raises USD1.1B More After US Case Dismissal Boosts Access
(MENAFN) Türkiye's state-owned Halkbank has pulled in an additional $1.1 billion from international investors after a US criminal case against the lender was thrown out, the bank disclosed Tuesday.
In a filing submitted to Türkiye's Public Disclosure Platform (KAP), Halkbank said the case's dismissal in its favor had significantly improved its standing with overseas funders.
The bank noted it had already secured $3.9 billion in external financing even before the legal matter was resolved, drawing on instruments such as Additional Tier 1 (AT1) subordinated debt and bilateral loan agreements. With the fresh $1.1 billion added, total external funding raised across both periods now stands at $5 billion.
Halkbank also pointed to a sharp rise in the number of counterparties willing to do business with the lender since the case concluded.
Among the steps taken to capitalize on the improved outlook, the bank said its board approved the launch of a $5 billion Global Medium-Term Note (GMTN) program on July 17. Such programs let financial institutions issue a range of debt instruments in global markets under one unified framework, giving them flexibility on maturities, currencies and the timing of issuances.
According to Halkbank, feedback gathered from a non-deal roadshow with fixed-income investors pointed to robust demand for its upcoming debt issuances.
The lender said it intends to keep expanding its footprint in international capital markets and will continue exploring alternative funding channels as part of efforts to build a more sustainable financing structure.
In a filing submitted to Türkiye's Public Disclosure Platform (KAP), Halkbank said the case's dismissal in its favor had significantly improved its standing with overseas funders.
The bank noted it had already secured $3.9 billion in external financing even before the legal matter was resolved, drawing on instruments such as Additional Tier 1 (AT1) subordinated debt and bilateral loan agreements. With the fresh $1.1 billion added, total external funding raised across both periods now stands at $5 billion.
Halkbank also pointed to a sharp rise in the number of counterparties willing to do business with the lender since the case concluded.
Among the steps taken to capitalize on the improved outlook, the bank said its board approved the launch of a $5 billion Global Medium-Term Note (GMTN) program on July 17. Such programs let financial institutions issue a range of debt instruments in global markets under one unified framework, giving them flexibility on maturities, currencies and the timing of issuances.
According to Halkbank, feedback gathered from a non-deal roadshow with fixed-income investors pointed to robust demand for its upcoming debt issuances.
The lender said it intends to keep expanding its footprint in international capital markets and will continue exploring alternative funding channels as part of efforts to build a more sustainable financing structure.
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