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.
JCR Eurasia Rating has evaluated "Vestel Elektronik Sanayi ve Ticaret AŞ" in the high investment-level category and affirmed the Long-Term National Issuer Credit Rating at "A(tr)" with ‘Stable' outlook. On the other hand, the Long Term International Foreign and Local Currency Issuer Credit Ratings and outlooks have been assigned as "BB/Negative".
The first coupon payment amounting to TL 4,866,641 on the 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 made as of today.
In accordance with its Board's decision dated 31.10.2022, Vestel Elektronik Sanayi ve Ticaret AŞ decided to apply to the Capital Markets Board of Turkey to issue up to 1,500,000,000 TL (one and a half billion 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.
Vestel Elektronik reported TL 39,102 mn (US$ 2,466 mn) of sales revenues and TL 959 mn (US$ 60 mn) of net profit for 9M22.
Click here for the 9M22 CMB financials.
The news in the Russian press stating that the television and household appliances factory of our wholly-owned subsidiary Vestel CIS Ltd. in Russia will resume production does not reflect the truth.
The first coupon payment amounting to TL 2,767,410 on the 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 made as of today.
Turkey's Automobile Joint Venture Group ("Togg"), in which our company has a 23% share, has become ready for mass production with the official opening of Gemlik Campus on October 29. Commercial sales are planned to start in March 2023. Togg is a future technology company that designs electric vehicles, builds a mobility ecosystem around these vehicles, and aims to create a sustainable future by making life easier for the masses thanks to this ecosystem. The company, which will have a production capacity of 175 thousand units per year and will employ 4 thousand 300 people when it reaches full production, aims to produce a total of 1 million vehicles from 5 different models until 2030.