In accordance with its Board's decision dated 11.03.2025, Vestel Elektronik Sanayi ve Ticaret AŞ decided to apply to the Capital Markets Board of Türkiye to issue up to TL 5,000,000,000 (five 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.
370,000,000 nominally valued corporate bond, which was sold to qualified investors on February 8, 2024 with a maturity of 384 days and with the ISIN Code of TRSVSTL22511, was redeemed as of today (February 26, 2025) with completion of the fourth coupon payment amounting to TL 62,036,790 and the principal payment of TL 370,000,000.
Vestel Elektronik Sanayi ve Ticaret AŞ completed the sale of a TL 160,000,000 commercial paper with fixed coupon payment with a maturity of 180 days to domestic qualified investors, the transfer of the securities to the customer accounts will be completed today. The debt instrument offers an annual simple interest rate of 43%. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue
Vestel Elektronik Sanayi ve Ticaret AŞ completed the sale of a TL 270,000,000 corporate bond with floating coupon payment with a maturity of 401 days to domestic qualified investors, the transfer of the securities to the customer accounts will be completed today. The interest rate of this instrument is 43,50% annual simple for the first coupon, 43,50% annual simple or the higher of TLREF + 0.50% (BIST TLREF Index Change + 50 Basis Points Additional Return) for the other coupons. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
Regarding our announcements dated 21.03.2019, 07.12.2020, 27.01.2023, 29.11.2023 and 13.03.2024; Ankara 8th Administrative Lawsuit Chamber, with its decision numbered 2023/1627 E. and 2024/395, in compliance with the reversal decision of the 13th Chamber of the Council of State dated 10.04.2023 and numbered 2023/206 E., 2023/1767 K., ruled that the Competition Board's decision on our Company's 100% subsidiaries Vestel Ticaret AŞ (Vestel Ticaret) and Whirlpool (Whirlpool Ev Aletleri Pazarlama ve Ticaret AŞ and Whirlpool Beyaz Eşya Sanayi ve Ticaret AŞ) was in compliance with the law. The plaintiffs appealed this decision on 14.05.2024. At the current stage, the 13th Chamber of the Council of State, with its decision dated 26.12.2024 and numbered 2024/1882 E., 2024/6008 K., decided unanimously to reject the appeal requests of the plaintiffs and to uphold the decision of the Ankara Regional Administrative Court 8th Administrative Case Department subject to appeal. Thus, all ordinary remedies have been exhausted and the decision of the Competition Board has been finalized administratively in favor of Vestel Ticaret.
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 Vestel Elektronik's Corporate Governance Rating from 9.62 (96.17%) to 9.62 (96.22%) as of 14.02.2025.
TL 220,000,000 nominally valued Commercial Paper, which was sold to qualified investors on August 21, 2024 with a maturity of 161 days and with the ISIN Code of TRFVSTL12527, was redeemed as of today (January 29, 2025) with completion of the coupon payment amounting to TL 50,461,400 and the principal payment of TL 220,000,000.
TL 209,000,000 nominally valued Commercial Paper, which was sold to qualified investors on August 21, 2024 with a maturity of 161 days and with the ISIN Code of TRFVSTL12519, was redeemed as of today (January 29, 2025) with completion of the coupon payment amounting to TL 47,938,330 and the principal payment of TL 209,000,000.
Vestel Elektronik Sanayi ve Ticaret AŞ completed the sale of a TL 750,000,000 corporate bond with floating coupon payment with a maturity of 379 days to domestic qualified investors, the transfer of the securities to the customer accounts will be completed today. The interest rate of this instrument is 46% annual simple for the first coupon, 46% annual simple or the higher of TLREF + 0.50% (BIST TLREF Index Change + 50 Basis Points Additional Return) for the other coupons. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
It has been resolved that our wholly owned indirect subsidiary Vestel Holland B.V., based in the Netherlands, shall acquire the entire 120,000 shares, each with a nominal value of EUR 1, of Gruppo Industriale Vesit S.p.A. with all rights and liabilities for a total price of EUR 120,000, to be paid in cash. Gruppo Industriale Vesit S.p.A. is established under Italian law with its registered address at Via Polidoro da Caravaggio n6, Milan, Italy, and registered with trade number 06681090962 REA MI-1907603, currently engaged in the sale and distribution of Vestel products and services in Italy. A share purchase agreement has been executed for this purpose, and the share transfer was completed on January 9, 2025.