Turkiye Garanti Bankasi redeems $200m medium-term note
Lender repays $200 million in debt via medium-term note redemption, part of ongoing liability management.
Turkiye Garanti Bankasi AS announced the redemption of a $200 million medium-term note (MTN) on Friday, according to a filing with the Istanbul Stock Exchange.
The debt instrument, issued under the bank’s MTN program, was fully redeemed at par value, the filing stated. No further financial details regarding the terms of the note were disclosed.
The redemption reflects the bank’s ongoing efforts to manage its liability profile and optimize its funding structure. Garanti Bankasi, a unit of Spain’s BBVA, has periodically tapped international capital markets to refinance debt and support liquidity.
Turkish lenders have faced heightened scrutiny over foreign currency debt levels amid currency volatility and rising global interest rates. The move underscores the bank’s strategy to reduce exposure to external funding pressures while maintaining operational flexibility.
The redemption was executed in accordance with the note’s original maturity schedule, and no extensions or restructurings were involved.
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