TL 400,000,000 nominally valued Corporate Bond, which was sold to qualified investors on February 19, 2021 with a maturity of 383 days and with the ISIN Code of TRSVSTL32213, was redeemed as of today (March 9, 2022) with the completion of the fourth coupon payment amounting to TL 21,040,000 and the principal payment of TL 400,000,000.
Vestel Elektronik has announced on February 25, 2021 that the Capital Markets Board had approved the Company's application to issue debt instruments up to a nominal value of TL 750,000,000 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 109,570,000 discounted commercial paper with a maturity of 169 days to domestic qualified investors on March 9, 2022. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.
Vestel Elektronik has announced on February 25, 2021 that the Capital Markets Board had approved the Company's application to issue TL denominated debt instruments up to a nominal value of TL 750,000,000 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 160,860,000 corporate bond with floating coupon payments with a maturity of 399 days to domestic qualified investors on March 9, 2022. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
Vestel Elektronik Sanayi ve Ticaret AŞ's stand-alone income statement for the period 01.01.2021 - 31.12.2021, 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.
SAHA Kurumsal Yönetim ve Kredi Derecelendirme Hizmetleri AŞ (“SAHA”), which is authorised to provide rating services in Turkey in accordance with the Capital Markets Board’s (“CMB”) Corporate Governance Principles, revised up Vestel Elektronik’s Corporate Governance Rating from 9.63 (96.34%) to 9.66 (96.59%) as of 18.02.2022.
The Company’s Corporate Governance Rating has been determined as a result of the evaluations made under four main headings (Shareholders, Public Disclosure and Transparency, Stakeholders, Board of Directors) in accordance with the CMB's Corporate Governance Principles. The breakdown of the Company’s Corporate Governance Rating by sub-section is as follows:
| Sub-Sections | Weights (%) | Rating (%) |
|---|---|---|
| Shareholders | 25 | 95.88 |
| Public Disclosure and Transparency | 25 | 98.44 |
| Stakeholders | 15 | 99.48 |
| Board of Directors | 35 | 94.53 |
| Total | 100 | 96.59 |
The Company’s revised rating, which is determined by SAHA in accordance with the Corporate Governance Principles, confirms Vestel Elektronik’s determination to adopt corporate governance principles and the improvements made in the implementation of necessary policies and measures. The afore-mentioned report is available on our Company's website at www.vestelinvestorrelations.com.
The second coupon payment, amounting to TL 7,415,430.00 on the TL 165,000,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 367 days and with the ISIN Code of TRSVSTL82218 was made as of today.
The sixth coupon payment amounting to TL 2,472,851.90 on the TL 50,380,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 728 days and with the ISIN Code of TRSVSTL72227 was made as of today.
The interest rate for the seventh coupon payment of the TL 50,380,000 nominally valued corporate bond, which was sold to qualified investors on July 9, 2020 with a maturity of 728 days and trades with the ISIN Code of TRSVSTL72227, has been set as 5.9302% (simple annual interest 23.7861%).
JCR Eurasia Rating evaluated Vestel Elektronik Sanayi ve Ticaret AŞ in a high investment grade category and affirmed the Company's ratings on the Long and Short-Term National Scales as “A (Trk)” and “A-1 (Trk)”, respectively, along with the “Stable” outlooks. Moreover, the Long Term International Foreign and Local Currency Ratings of the Company have been determined as “BB/Stable”, in line with the sovereign ratings of Turkey.
The third coupon payment, amounting to TL 20,680,400.00 on the TL 400,000,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 383 days and with the ISIN Code of TRSVSTL32213 was made as of today.