Akbank Initiates 25 Billion Lira Mortgage-Covered Bond Issuance Abroad

Issuance Process and Authorization Akbank has taken a strategic step regarding the issuance of debt instruments in international markets.
In a notification to the Public Disclosure Platform (KAP), the bank announced that it has initiated the process for the issuance of mortgage-covered bonds (MCB) up to 25 billion Turkish Liras.
The bank's board of directors decided to carry out the issuance of up to a total of 25 billion TL or the equivalent amount in foreign currency within one year, subject to favorable market conditions.
These issuances are planned to be conducted in multiple tranches without a public offering.
The General Directorate has been authorized to manage operational processes, including determining the timing, maturity, and interest rates of the issuances.
Legal Applications and Scope Official processes will be initiated for registration on foreign stock exchanges and to obtain necessary permissions from the Capital Markets Board (SPK) and other authorized bodies.
This move aims to increase the bank's funding diversity in international markets.
What are Mortgage-Covered Bonds (MCB)?
Mortgage-covered bonds are debt instruments issued by banks using receivables secured by mortgages, such as housing loans, as collateral.
These financial products offer investors regular interest income while providing banks with long-term and relatively low-cost funding opportunities.