AK Yatırım Completes 5 Million Lira Structured Debt Issue
The 35-day instrument was sold to qualified investors and is due for repayment on November 17, according to the KAP filing.
Key takeaways
- AK Yatırım completed a 5 million lira structured debt issue on October 13.
- The instrument has a 35-day term and matures on November 17.
- The filing gives different issuance-ceiling figures in two sections.
AK Yatırım Menkul Değerler completed the sale of a 5 million lira structured debt instrument to qualified investors on October 13, according to its KAP disclosure. The instrument has a 35-day term and matures on November 17.
The instrument has a variable interest rate, no coupons and a 5 million lira principal repayment due at maturity. Its underlying asset is Türk Telekom shares (TTKOM), and it will not trade on an exchange. For AK Yatırım, the sale is borrowing rather than a share issuance, and it creates a repayment obligation.
The filing lists a 15 billion lira issuance ceiling in its ceiling details, but says in an additional explanation that the issue falls within a 2,500,000,000 lira ceiling. It also reports an AAA issuer rating from SAHA dated October 9, while stating that the debt instrument itself has no rating.
This article was produced with the help of AI technology. Source: Yahoo Finance
