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 120,000,000 corporate bond with floating coupon payments with a maturity of 379 days to domestic qualified investors on January 25, 2023. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
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 280,000,000 commercial paper with fixed coupon payment with a maturity of 175 days to domestic qualified investors on January 25, 2023. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
The interest rate for the second coupon payment of TL 30,000,000 nominally valued Corporate Bond, which was sold to qualified investors to domestic qualified investors on August 1, 2022 with a maturity of 389 days and with the ISIN Code of TRSVSTL82317, has been set as 9.2247% (simple annual interest 37%).
Within the scope of the restructuring of sales and marketing companies abroad, Vestel Germany GmbH, which is based in Germany and wholly-owned by Vestel Ticaret AŞ (Vestel Ticaret), a fully-owned subsidiary of Vestel Elektronik Sanayi ve Ticaret AŞ (Vestel Elektronik), has been merged into Vestel Holland B.V., another wholly-owned subsidiary of Vestel Ticaret. With the merger, all assets, liabilities and operations of Vestel Germany GmbH have been transferred to Vestel Holland B.V. Germany Branch Office, which is established in Germany by Vestel Holland B.V. The merger took place as of December 31, 2022. Following the merger, Vestel Holland B.V. Germany Branch Office will maintain the existing organizational and ownership structure of Vestel Germany GmbH and continue the company's operations. The aforementioned transfer will not affect Vestel Elektronik's position in the German market.
Within the scope of the restructuring of sales and marketing companies abroad, Vestel Poland sp. z o.o., which is based in Poland and wholly-owned by Vestel Ticaret AŞ (Vestel Ticaret), a fully-owned subsidiary of Vestel Elektronik Sanayi ve Ticaret AŞ (Vestel Elektronik), has been merged into Vestel Holland B.V. another wholly-owned subsidiary of Vestel Ticaret. With the merger, all the assets, liabilities and operations of Vestel Poland sp. z o.o. have been transferred to Vestel Holland B.V. Sp. z o.o. Oddział w Polsce, which is a branch established in Poland by Vestel Holland B.V. The merger took place as of January 1, 2023. Following the merger, Vestel Holland B.V. Sp. z o.o. Oddział w Polsce will maintain the existing organizational and ownership structure of Vestel Poland sp. z o.o. and continue the company's operations. The aforementioned transfer will not affect Vestel Elektronik's position in the Polish market.
Zorlu Holding AŞ sold 2,000,000 Vestel Elektronik Sanayi ve Ticaret AŞ ("Vestel Elektronik") shares at a price of TL 64.5 per share on Borsa Istanbul via block sale on December 28, 2022. Following the transaction, the Company's share in Vestel Elektronik declined to 60.95%.
As per the Company's Board of Directors' resolution on 16.12.2022,
It has been decided to sell and transfer the Company's 107,148.5 sqm of land registered in Manisa Province, Organized Industrial Zone III, Section 3307, parcel no. 34 and the building on the cited land to Vestel Beyaz Eşya Sanayi ve Ticaret A.Ş., which is currently occupying the properties as the lessee, in consideration for 674,000,000.00 TL, which is the average of the values determined in the valuation reports, dated 16.12.2022, issued by Gayrimenkul Değerleme ve Danışmanlık A.Ş. and Çelen Gayrimenkul Değerleme ve Danışmanlık A.Ş. both licensed by the Capital Markets Board and to collect the sales price in cash.
Regarding the above-mentioned transaction, as the will of the parties regarding the transaction will become concrete as a result of the parceling and allotment transactions and the property valuation studies, in order to prevent any misleading of investors, the public announcement on the subject was postponed with the decision of the Board of Directors dated 23.11.2022 and numbered 2022/49 within the framework of the Article 6 of the Communiqué on Material Events Disclosure numbered II-15.1.
The third coupon payment, amounting to TL 6,537,832.98 on the TL 160,860,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 399 days and with the ISIN Code of TRSVSTL42311 was made as of today. The interest rate for the fourth coupon payment has been set as 4.5037% (simple annual interest 12.8426%).
Pursuant to Borsa İstanbul’s letter dated 02.12.2022 and numbered E-18454353-100.6-13028, we proclaim that there is not yet any undisclosed material event about our Company as per the Article 8 titled “Unusual price and volume movements” of the Capital Markets Board's Communiqué on Material Events Disclosure No. II-15.1.
TL 334,000,000 nominally valued Discounted Commercial Paper, which was sold to qualified investors on August 1, 2022 with a maturity of 123 days and with the ISIN Code of TRFVSTLA2212, was redeemed as of today (December 2, 2022) with completion of the principal payment of TL 334,000,000.