Recent Developments in Turkish Capital Markets – 2025 July
ISSUANCES APPROVED BY THE CAPITAL MARKETS BOARD OF TÜRKİYE – JULY 2025
SHARE ISSUANCES of PUBLIC COMPANIES | ||
COMPANY NAME | TYPE of SALE | SIZE of ISSUANCE |
Galatasaray Sportif Sınai ve Ticari Yatırımlar A.Ş. | Public Offering | TRY 8,100,000,000 |
Hedef Holding A.Ş. | Private Placement | TRY 650,000,000 |
Gersan Elektrik Ticaret ve Sanayi A.Ş. | Private Placement / Qualified | TRY 1,750,000,000 |
Borlease Otomotiv A.Ş. | Issuance Through Internal Resources | TRY 531,300,000 |
Körfez Gayrimenkul Yatırım Ortaklığı A.Ş. | Public Offering | TRY 660,000,000 |
Peker Gayrimenkul Yatırım Ortaklığı A.Ş. | Public Offering | TRY 2,500,000,000 |
Bayrak Ebt Taban Sanayi ve Ticaret A.Ş. | Private Placement | TRY 218,000,000 |
Sönmez Pamuklu Sanayii A.Ş. | Public Offering (Issuance Through Internal Resources & Paid Capital Increase) | TRY 130,000,000 and TRY 130,000,000 |
Çelik Halat ve Tel Sanayii A.Ş. | Public Offering | TRY 198,966,839 |
Gedik Yatırım Menkul Değerler A.Ş. | Issuance Through Internal Resources | TRY 1,000,000,000 |
Kafein Yazılım Hizmetleri Ticaret A.Ş. | Issuance Through Internal Resources | TRY 177,750,000 |
Işık Plastik Sanayi ve Dış Ticaret Pazarlama A.Ş. | Issuance Through Internal Resources | TRY 1,287,081,535 |
AG Anadolu Grubu Holding A.Ş. | Issuance Through Internal Resources | TRY 2,191,810,661.64 |
Fuzul Gayrimenkul Yatırım Ortaklığı A.Ş. | Issuance Through Internal Resources | TRY 932,000,000 |
DEBT INSTRUMENTS ISSUANCES | |||
COMPANY NAME | TYPE of DEBT INSTRUMENT | TYPE of SALE | ISSUANCE LIMIT |
Smart Güneş Enerjisi Teknolojileri Araştırma Geliştirme Üretim Sanayi ve Ticaret A.Ş. | Bonds/Financing Bonds | Qualified Investor | TRY 3,000,000,000 |
DCT Trading Dış Ticaret A.Ş. | Bonds/Financing Bonds | Qualified Investor | TRY 1,500,000,000 |
Yeo Teknoloji Enerji ve Endüstri A.Ş. | Green Bonds/Financing Bonds | Qualified Investor | TRY 1,500,000,000 |
Akfen Holding A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 3,000,000,000 |
Anadolu Isuzu Otomotiv Sanayi ve Ticaret A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 2,500,000,000 |
DYO Boya Fabrikaları Sanayi ve Ticaret A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 2,000,000,000 |
Aktif Yatırım Bankası A.Ş. | Bonds/Financing Bonds/ Structured Debt Instrument | Public Offering / Qualified Investor | TRY 19,000,000,000 |
Kontrolmatik Teknoloji Enerji ve Mühendislik A.Ş. | Bonds/Financing Bonds | Overseas | EUR 100,000,000 |
Palmet Mühendislik Taahhüt Servis Endüstri ve Ticaret A.Ş. | Bonds/Financing Bonds | Private Placement | TRY 1,000,000,000 |
İnfo Yatırım Menkul Değerler A.Ş. | Bonds/Financing Bonds | Qualified Investor | TRY 4,000,000,000 |
Vestel Elektronik Sanayi ve Ticaret A.Ş. | Bonds/Financing Bonds | Qualified Investor | TRY 1,520,000,000 |
Yapı Kredi Yatırım Menkul Değerler A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 24,000,000,000 |
Hepsi Finansman A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 1,050,000,000 |
Escar Filo Kiralama Hizmetleri A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 1,000,000,000 |
Q Finans Faktoring A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 330,000,000 |
İş Gayrimenkul Yatırım Ortaklığı A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 10,000,000,000 |
Şeker Yatırım Menkul Değerler A.Ş. | Bonds/Financing Bonds | Qualified Investor | TRY 2,000,000,000 |
Korteks Mensucat Sanayi ve Ticaret A.Ş. | Bonds/Financing Bonds | Qualified Investor | TRY 7,000,000,000 |
Doruk Faktoring A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 1,200,000,000 |
Mercedes Benz Kamyon Finansman A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 5,000,000,000 |
Karsan Otomotiv Sanayii ve Ticaret A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 2,000,000,000 |
Brisa Bridgestone Sabancı Lastik Sanayi ve Ticaret A.Ş. | Bonds/Financing Bonds | Qualified Investor | TRY 5,000,000,000 |
Söktaş Tekstil Sanayi ve Ticaret A.Ş. | Bonds/Financing Bonds | Qualified Investor | TRY 2,000,000,000 |
Eko Faktoring A.Ş. | Bonds/Financing Bonds | Qualified Investor | TRY 75,000,000 |
Coca-Cola İçecek A.Ş. | Bonds/Financing Bonds | Private Placement / Qualified Investor | TRY 10,000,000,000 |
Türker Yenilenebilir Enerji Yatırım A.Ş. | Bonds/Financing Bonds | Overseas | USD 500,000,000 |
OTHER ISSUANCES | |||||
COMPANY NAME | TYPE of CAPITAL MARKETS INSTRUMENTS | NOMINAL ISSUANCE CAP | TYPE of SALE | IN THE ISSUANCE OF LEASE CERTIFICATES AND ASSET-BACKED SECURITIES | |
FOUNDER | SOURCE ORGANIZATION/FUND USER | ||||
KT Sukuk Varlık Kiralama A.Ş. | Lease Certificate Based on Management Agreement | TRY 2,000,000,000 | Private Placement / Qualified Investor | Kuveyt Türk Katılım Bankası A.Ş. | Lokman Hekim Engürüsağ Sağlık Turizm Eğitim Hizmetleri ve İnşaat Taahhüt A.Ş. |
İş Yatırım Menkul Değerler A.Ş. | Investment Firm Warrants and Certificates | TRY 1,000,000,000 | Public Offering / Qualified Investor | – | – |
Emlak Katılım Varlık Kiralama A.Ş. | Lease Certificate Based on Management Agreement | TRY 40,000,000,000 | Private Placement / Qualified Investor | Türkiye Emlak Katılım Bankası A.Ş. | Türkiye Emlak Katılım Bankası A.Ş. |
D Varlık Kiralama A.Ş. | Lease Certificate Based on Management Agreement | TRY 2,600,000,000 | Private Placement / Qualified Investor | D Yatırım Bankası A.Ş. | D Yatırım Bankası A.Ş. |
Halk Varlık Kiralama A.Ş. | Lease Certificate Based on Ownership | TRY 15,000,000,000 | Private Placement / Qualified Investor | Türkiye Halk Bankası A.Ş. | Türkiye Halk Bankası A.Ş. |
Fibabanka AŞ Arena Bilgisayar Birinci Varlık Finansmanı Fonu | Asset-Backed Security | TRY 10,000,000,000 | Qualified Investor | Fibabanka A.Ş. | Arena Bilgisayar Sanayi ve Ticaret A.Ş. |
BNP Paribas Issuance B.V. | Investment Firm Warrants and Certificates | TRY 900,000,000 | Public Offering | – | – |
Ziraat Katılım Varlık Kiralama A.Ş. | Lease Certificate Based on Management Agreement and/or Purchase and Sale Agreement | TRY 80,000,000,000 | Public Offering and/or Private Placement / Qualified Investor | Ziraat Katılım Bankası A.Ş. | Ziraat Katılım Bankası A.Ş. |
Halk Varlık Kiralama A.Ş. | Lease Certificate Based on Management Agreement | TRY 20,000,000,000 | Private Placement / Qualified Investor | Türkiye Halk Bankası A.Ş. | Emlak Konut Gayrimenkul Yatırım Ortaklığı A.Ş. |
Halk Varlık Kiralama A.Ş. | Lease Certificate Based on Management Agreement | TRY 2,000,000,000 | Private Placement / Qualified Investor | Türkiye Halk Bankası A.Ş. | Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş. |
Emlak Konut Gayrimenkul Yatırım Ortaklığı A.Ş. | Real Estate Certificate | 6,745,812,133 Real Estate Certificates | Public Offering | – | – |
Pasha Yatırım Bankası AŞ Maygold Otomotiv Üçüncü Varlık Finansmanı Fonu | Asset-Backed Security | TRY 6,000,000,000 | Qualified Investor | Pasha Yatırım Bankası A.Ş. | Maygold Otomotiv A.Ş. |
Emlak Varlık Kiralama A.Ş. | Lease Certificate Based on Management Agreement | TRY 5,000,000,000 | Private Placement / Qualified Investor | Emlak Katılım Bankası A.Ş. | TTNET A.Ş. |
Emlak Varlık Kiralama A.Ş. | Lease Certificate Based on Management Agreement | TRY 1,000,000,000 | Private Placement / Qualified Investor | Emlak Katılım Bankası A.Ş. | Varaka Kağıt Sanayi A.Ş. |
ANNOUNCEMENTS AND BOARD RESOLUTIONS
- Board Resolution dated 17/07/2025 and numbered 40/1271 (i-SPK.52.5):
It has been resolved by the Board that, in cases where real estate owned by a real estate investment fund (REIF) includes structures that are derelict, have reached the end of their economic life, do not generate any income, are annotated as “risky structures” in the land registry, or appear in the title deed records but have been demolished in practice, such real estate may be included in the REIF portfolio as land without applying subparagraph (b) of the first paragraph of Article 18 of the Communiqué on Principles Regarding Real Estate Investment Funds (III-52.3), provided that:
- the condition is confirmed by a real estate valuation report; and
- (ii) a declaration is submitted to the Board stating that such structures, if any, will be demolished, and that the title deed will be updated accordingly, if necessary.
Successful