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.
Vestel Poland Sp. z.o.o. and Vestel Polska Technology Center Sp. z.o.o, which are both based in Poland and are owned by Vestel Elektronik's wholly-owned subsidiary Vestel Ticaret AŞ, have been merged and will continue their operations under the umbrella of Vestel Poland Sp. z.o.o. A simplified corporate structure is aimed with the said merger.
Vestel Elektronik announced consolidated sales revenues of TL 21,759 mn (US$ 2,692 mn) and net profit of TL 1,060 mn (US$ 131 mn) in 9M21.
Click here for 9M21 CMB financials.
The first coupon payment, amounting to TL 8,634,615.00 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 fifth coupon payment amounting to TL 2,511,745.26 on the TL 50,380,000 nominally valued Corporate Bond with the ISIN Code of TRSVSTL72227 was made as of today.