TL 30,000,000 nominally valued corporate bond, which was sold to qualified investors on August 1, 2022 with a maturity of 389 days and with the ISIN Code of TRSVSTL82317, was redeemed as of today (August 25, 2023) with completion of the fourth coupon payment amounting to TL 3,497,280 and the principal payment of TL 30,000,000.
TL 61,000,000 nominally valued corporate bond, which was sold to qualified investors on August 25, 2022 with a maturity of 365 days and with the ISIN Code of TRSVSTL82325, was redeemed as of today (August 25, 2023) with completion of the fourth coupon payment amounting to TL 4,920,138 and the principal payment of TL 61,000,000.
TL 230,000,000 nominally valued Coupon Commercial Paper, which was sold to qualified investors on April 12, 2023 with a maturity of 135 days and with the ISIN Code of TRFVSTL82314, was redeemed as of today (August 25, 2023) with completion of the first coupon payment amounting to TL 28,923,420 and the principal payment of TL 230,000,000.
Vestel Elektronik reported TL 37,387 mn (US$ 1,898 mn) of sales revenues and TL 680 mn (US$ 35 mn) of net loss for 1H23.
Click here for the 1H23 CMB financials
Vestel Elektronik Sanayi ve Ticaret AŞ's stand-alone income statement for the period 01.01.2023 - 30.06.2023, which has been submitted to the Tax Authority in accordance with the Tax Procedure Law, can be found in the attachment. The aforementioned income statement is not prepared in accordance with the Capital Markets Board's ("CMB") legislation. Since the financials of the Company's subsidiaries and associates are not included in the attached Financial Statement, these results may vary from the Consolidated Financial Statements prepared in accordance with the CMB regulations to be released in the upcoming days, and should not be used for forecasting the Company's Consolidated Financial Statements.
Vestel Elektronik Sanayi ve Ticaret AŞ sold 32,000,000 Vestel Beyaz Eşya Sanayi ve Ticaret AŞ shares within a price range of TL 14.80 – TL 15.04 per share on Borsa Istanbul via block trades to institutional investors on August 14, 2023. Following the transaction, the Company's share in Vestel Beyaz Eşya Sanayi ve Ticaret AŞ declined to 77.33%. Our Company commits not to sell any additional Vestel Beyaz Eşya shares for 180 days following this transaction.
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 8, 2023 for the renewal of the Company's corporate governance rating. The term of the agreement is one year.
Vestel Elektronik has announced on December 7, 2022 that the Capital Markets Board had approved the Company's application to issue TL denominated debt instruments up to a nominal value of TL 1,500,000,000 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 680,000,000 commercial paper with fixed coupon payment with a maturity of 126 days to domestic qualified investors on July 19, 2023. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
TL 280,000,000 nominally valued Coupon Commercial Paper, which was sold to qualified investors on January 25, 2023 with a maturity of 175 days and with the ISIN Code of TRFVSTL72315, was redeemed as of today (July 19, 2023) with completion of the first coupon payment amounting to TL 38,260,320 and the principal payment of TL 280,000,000.
Pursuant to the Article 4.2.8 of the Capital Markets Board's Communiqué on Corporate Governance, Vestel Elektronik has renewed its existing Directors and Officers Liability Policy for one year. The annual insurance limit of the policy exceeds 25% of the Company's share capital.