Pursuant to our material event disclosure dated 25.06.2026, the Capital Markets Board's ("CMB") approval for the planned debt issue was announced in the CMB's bulletin dated 20.08.2026 and numbered 50/1529 and notified to the Company on 24.08.2026. The approved issue document is presented in the attachment.
As part of the work being carried out to establish a sustainable capital structure, our Company has initiated a consent solicitation process (the "Transaction") from the holders of its Eurobonds with ISIN codes XS2817919587 and US92548MAA53, in accordance with the Terms and Conditions of the Bonds. Subject to obtaining the necessary approvals as part of the Transaction, it is envisaged that alternatives regarding the potential restructuring of the Bonds will be discussed with the Bondholders and/or their representatives, and that the necessary work and preparations will be carried out in this respect.
Developments regarding the matter will be disclosed to the public fully and in a timely manner.
The third coupon payment amounting to TL 2,730,753.28 on the TL 24,340,000 nominally valued corporate bond which was sold to qualified investors on November 26, 2025 with a maturity of 386 days and trades with the ISIN Code of TRSVSTLA2613 , was made as of today. The interest rate for the third coupon payment has been set as 14.5480%.
The financial results presentation of our Company for the period 01.01.2026–30.06.2026 is made available to our investors on our corporate website (www.vestelinternational.com).
Vestel Elektronik Sanayi ve Ticaret AŞ signed a Corporate Governance Principles Compliance Rating Agreement with SAHA Kurumsal Yönetim ve Kredi Derecelendirme Hizmetleri AŞ on August 7, 2026 for the renewal of the Company's corporate governance rating. The term of the agreement is one year.
Following the latest assessment by the international credit rating agency Moody's, our Company's Long-Term CFR has been revised from "Caa2" to " Caa3", and the related PDR has been revised from "Caa2-PD" to "Caa3-PD". In addition, the rating of the Company's USD 500 million guaranteed senior unsecured notes due 2029 has been revised from "Caa2" to "Caa3". The outlook for all ratings has remained "Negative."
The public disclosure made by the Company on Euronext Dublin pursuant to Article 24 f.7 of the Communiqué on Material Events, is shared below :
"As part of its ongoing engagement with the holders of its senior notes bearing ISINs XS2817919587 and US92548MAA53 (Eurobonds), our Company has appointed Houlihan Lokey as financial advisor to support its evaluation of strategic alternatives for its outstanding Eurobonds, with the objective of achieving a sustainable capital structure.
The Company and its advisor will continue to keep holders of its Eurobonds updated of material developments."
Vestel Elektronik Sanayi ve Ticaret AŞ completed the sale of a TL 93,510,000 commercial paper with fixed coupon payment with a maturity of 94 days to domestic qualified investors, the transfer of the securities to the customer accounts will be completed today.The debt instrument offers an annual simple interest rate of 49,5%.Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
International rating agency Fitch Ratings revised our Company's Long-Term Local and Foreign-Currency Ratings (IDR) to ‘CCC-' from 'CCC+'. The instrument rating of the senior unsecured bonds issued by our company amounting to USD 500 million with a maturity of 2029 has been revised from "CCC" to "CC".
The 2nd Term Collective Bargaining Agreement covering the period between January 1, 2026 and December 31, 2027, between Vestel Elektronik Sanayi ve Ticaret A.Ş., Vestel Beyaz Eşya Sanayi ve Ticaret A.Ş. and Vestel Mobilite Sanayi ve Ticaret A.Ş. and the Turkish Metal Union, has been signed on June 30, 2026.