TÜRKIYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIGI
To : Investor Community
From : VakıfBank - Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Exchange Transaction
Date : 13.01.2017
In 2012, our Bank has realized the sale of notes incorporating subordinated debt instrument provisions issued abroad due on 2022 and amounting to US$ 900,000,000. With the arrangements and amendments made to the BRSA's Regulation on Equities of Banks, the items considered as Tier 2 capital in the calculation of a bank's capital adequacy has become compliant with Basel III. Accordingly, the impact of the notes issued in 2012 incorporating subordinated debt instrument provisions which are in compliance with Basel II over Tier 2 capital of our Bank has decreased.
Within this scope, the permission obtaining process from the noteholders for the exchange of such existing notes issued abroad with the new notes subject to the terms and conditions which are in compliance with Basel III, has been initiated and BNP Paribas, Citigroup Global Markets Limited, Merrill Lynch International ve Standard Chartered Bank has been authorized in this respect. The BRSA approval ensuring that the draft terms and conditions of such notes meets the requirement set out in the sub-paragraph 2 of Clause 8 entitled "Tier 2 Capital" of the Regulation on Equities of Banks has also been obtained.
Further developments regarding the exchange process will be disclosed to the public.
We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
Yours sincerely,
VakıfBank
From : VakıfBank - Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Exchange Transaction
Date : 13.01.2017
In 2012, our Bank has realized the sale of notes incorporating subordinated debt instrument provisions issued abroad due on 2022 and amounting to US$ 900,000,000. With the arrangements and amendments made to the BRSA's Regulation on Equities of Banks, the items considered as Tier 2 capital in the calculation of a bank's capital adequacy has become compliant with Basel III. Accordingly, the impact of the notes issued in 2012 incorporating subordinated debt instrument provisions which are in compliance with Basel II over Tier 2 capital of our Bank has decreased.
Within this scope, the permission obtaining process from the noteholders for the exchange of such existing notes issued abroad with the new notes subject to the terms and conditions which are in compliance with Basel III, has been initiated and BNP Paribas, Citigroup Global Markets Limited, Merrill Lynch International ve Standard Chartered Bank has been authorized in this respect. The BRSA approval ensuring that the draft terms and conditions of such notes meets the requirement set out in the sub-paragraph 2 of Clause 8 entitled "Tier 2 Capital" of the Regulation on Equities of Banks has also been obtained.
Further developments regarding the exchange process will be disclosed to the public.
We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
Yours sincerely,
VakıfBank
Turkiye Vakiflar Bankasi TAO published this content on 13 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 January 2017 15:05:04 UTC.
Original documenthttp://www.vakifbank.com.tr/recent-news.aspx?pageID=624
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