Turkiye Ihracat Kredi Bankasi Completes USD 500 Million Bond Issuance
Deal News | Jul 09, 2025 | CEE Legal Matters
The Turkish bank, Turkiye Ihracat Kredi Bankasi, has successfully issued a USD 500 million fixed-rate bond under its broader global medium-term note program, which has a total capacity of USD 8 billion. The bond attracted participation from international markets with a coupon rate of 6.875%. The transaction was supported by Allen & Overy, Shearman & Sterling, and their Turkish affiliate law firm Gedik & Eraksoy. Key legal advisors on the deal included Partner Umut Gurgey, Senior Associate Dilsah Gurses Erulutekin, and Associate Melis Yilmaz Diler. This development underscores the bank's commitment to leveraging international financial platforms for funding.
Sectors
- Finance
- Legal Services
- Investment Banking
Geography
- Turkey – The primary entity involved, Turkiye Ihracat Kredi Bankasi, is based in Turkey.
- International – The bond issuance was targeted at international markets.
Industry
- Finance – The issuance of bonds is a financial activity and falls under the financial services sector.
- Legal Services – The legal advisory role provided by Allen & Overy, Shearman & Sterling, and Gedik & Eraksoy is a key component of the transaction.
- Investment Banking – The involvement of joint bookrunners in the bond issuance is related to investment banking activities.
Financials
- USD 500 million – Amount raised through the bond issuance.
- 6.875% – Coupon rate of the issued bonds.
- USD 8 billion – Total capacity under the global medium-term note program.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Turkiye Ihracat Kredi Bankasi | Issuer | Company | The bank that has issued the USD 500 million bond. |
| Allen & Overy | Legal Advisor | Company | Provided legal advice for the bond issuance. |
| Shearman & Sterling | Legal Advisor | Company | Collaborated with Allen & Overy in providing legal advice for the bond issuance. |
| Gedik & Eraksoy | Legal Advisor | Company | Turkish affiliate law firm involved in the legal advisory team. |
| Umut Gurgey | Legal Advisor | Person | Partner at Gedik & Eraksoy involved in the transaction. |
| Dilsah Gurses Erulutekin | Legal Advisor | Person | Senior Associate at Gedik & Eraksoy. |
| Melis Yilmaz Diler | Legal Advisor | Person | Associate at Gedik & Eraksoy. |