The Board of Directors of Vestel Beyaz Eşya Sanayi ve Ticaret AŞ resolved to establish the following committees in order to assist the Board of Directors in fulfilling its supervisory responsibilities as per the Paragraph 2 of Article 366 of the Turkish Commercial Code.
1- "Strategy and Investments Committee" will be established to operate in the fields of strategy and investments within the framework of its "Working Principles and Procedures" to be prepared and Mr. Elmas Melih Araz will be appointed as the Chairperson and Ms. Ayşegül İldeniz and Mr. Bekir Cem Köksal as the Committee members.
2- "Sustainability Committee" will be established to operate in the field of sustainability within the framework of its "Working Principles and Procedures" to be prepared and Mr. Bekir Ağırdır will be appointed as the Chairperson and Mr. Ergün Güler as the Committee member.
The first coupon payment amounting to TL 26,926,120 on the TL 260,000,000 nominally valued corporate bond, which was sold to qualified investors on September 1, 2023 with a maturity of 383 days and trades with the ISIN Code of TRSVEST92428, was made as of today.The interest rate for the second coupon payment has been set as 11.2192% (simple annual interest 45%).
The first coupon payment amounting to TL 4,737,00 on the TL 50,000,000 nominally valued corporate bond, which was sold to qualified investors on August 25, 2023 with a maturity of 390 days and trades with the ISIN Code of TRSVEST92410, was made as of today.The interest rate for the second coupon payment has been set as 9.4740% (simple annual interest 38%). This statement was translated into English for informational purposes.
Pursuant to our material event disclosure dated 27.09.2023, the Capital Markets Board's ("CMB") approval for the planned debt issue was announced in the CMB's bulletin dated 10.11.2023 and numbered 2023/70. The approved issuance certificate, its annex and signed application form are presented in the attachment.
Click here for the Issuance Certificate.
In our material event disclosure dated 02.03.2023 it was announced that Vestel Beyaz Eşya had used the first tranche (300 million TL) of the investment committed advance loan (ICAL) with 10 years maturity originating from the Central Bank of the Republic of Türkiye. The last tranche of the loan was drawn as of 01.11.2023 and the use of 1.5 billion Turkish Lira has been completed.
Vestel Beyaz Eşya reported TL 34,580 mn (EUR 1,443 mn) of sales revenues and TL 3,513 mn (EUR 147 mn) of net profit for 9M23.
Click here for for the 9M23 CMB financials.
In accordance with its Board's decision dated 27.09.2023, Vestel Beyaz Eşya Sanayi ve Ticaret AŞ decided to apply to the Capital Markets Board of Türkiye to issue up to TL 2,500,000,000 (two billion five hundred million Turkish Liras) of TL denominated debt instruments in varying terms up to 5 (five) years, in single or multiple tranches, in the form of sales to qualified investors without being offered to the public.
TL 246,000,000 nominally valued commercial paper, which was sold to qualified investors on June 7, 2023 with a maturity of 86 days and with the ISIN Code of TRFVEST92326, was redeemed as of today (September 1, 2023) with completion of the first coupon payment amounting to TL 24,923,736 and the principal payment of TL 246,000,000.
TL 110,000,000 nominally valued commercial paper, which was sold to qualified investors on May 25, 2023 with a maturity of 99 days and with the ISIN Code of TRFVEST92318, was redeemed as of today (September 1, 2023) with completion of the first coupon payment amounting to TL 12,232,660 and the principal payment of TL 110,000,000.
Vestel Beyaz Eşya has announced on July 25, 2023 that the Capital Markets Board had approved the Company's application to issue TL denominated debt instruments up to a nominal value of TL 700,000,000 and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market. Within this scope, the Company completed the sale of a TL 390,000,000 commercial paper with fixed coupon payment with a maturity of 173 days to domestic qualified investors on September 1, 2023. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.