TL 500,000,000 nominally valued commercial paper, which was sold to qualified investors on June 27, 2024 with a maturity of 55 days and trades with the ISIN Code of TRFVSTL82421, was redeemed as of today (August 21, 2024) with completion of coupon payment amounting to TL 39,178,500 and the principal payment of TL 500,000,000.
TL 190,000,000 nominally valued commercial paper, which was sold to qualified investors on August 25, 2023 with a maturity of 362 days and trades with the ISIN Code of TRFVSTL82413, was redeemed as of today (August 21, 2024) with completion of fourth coupon payment amounting to TL 25,804,660 and the principal payment of TL 190,000,000.
The third coupon payment amounting to TL 71,700,662 on the TL 517,000,000 nominally valued corporate bond, which was sold to qualified investors on November 22, 2023 with a maturity of 379 days and trades with the ISIN Code of TRSVSTLA2415, was made as of today. The interest rate for the fourth coupon payment has been set as 16.3507%.
Vestel Elektronik Sanayi ve Ticaret AŞ completed the sale of a TL 220,000,000 commercial paper with fixed coupon payment with a maturity of 161 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 52%. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
A non-binding Memorandum of Understanding (MoU) is signed between Vestel Mobilite Sanayi ve Ticaret AŞ, a wholly-owned subsidiary of Vestel Elektronik Sanayi ve Ticaret AŞ, and Hiconics Eco-energy Technology, which is part of the Chinese Midea Group, to explore potential collaboration opportunities in the areas of design, production, marketing and sales of residential energy storage products for the Turkish and European markets, as well as joint development of products according to market needs. Developments will be fully and promptly disclosed to the public.
The second coupon payment amounting to TL 50,101,330 on the TL 370,000,000 nominally valued corporate bond which was sold to qualified investors on February 8, 2024 with a maturity of 384 days and trades with the ISIN Code of TRSVSTL22511, was made as of today. The interest rate for the third coupon payment has been set as 13.8967%
Vestel Elektronik Sanayi ve Ticaret AŞ signed a Corporate Governance Principles Compliance Rating Agreement with SAHA Kurumsal Yönetim ve Kredi Derecelendirme Hizmetleri AŞ on August 8, 2024 for the renewal of the Company's corporate governance rating. The term of the agreement is one year.
Pursuant to our material event disclosures dated 21.03.2019 and 07.12.2020, it has been decided to terminate the Service Agreement signed for 5 years between Vestel Ticaret AŞ, a wholly-owned subsidiary of our Company, and Whirlpool EMEA S.p.A (Whirlpool) for the provision of installation, after-sales and call centre services in Türkiye by Vestel Ticaret for Indesit, Hotpoint and Ariston branded major household appliances (MDA), air conditioners and small household appliances (SDA) produced by Whirlpool as of 01.12.2024 and that no service shall be provided to Whirlpool under this agreement after the date of 01.12.2024.
Pursuant to our material event disclosures dated 26.09.2014 and 25.12.2019, Vestel Ticaret AŞ, a wholly-owned subsidiary of our Company, and Sharp Corporation have started negotiations on expanding the scope of their existing cooperation in the field of white goods and small domestic appliances in Europe as well as extending the terms of the existing brand licensing and distribution agreements. The developments will be fully and timely disclosed to the public.
The public disclosure of the afore-mentioned insider information has been postponed with the decision of the Board of Directors of our Company dated 26.04.2024 and numbered 2024/24 until the negotiations between the parties reach a certain level of development, by considering the rights and interests of the parties and in order not to mislead the investors.
A non-binding Memorandum of Understanding (MoU) valid for one year has been signed between Vestel Mobilite Sanayi ve Ticaret AŞ, an indirect wholly-owned subsidiary of Vestel Elektronik Sanayi ve Ticaret AŞ, and Shloka Enterprises LLP, which is part of Krishna Group, one of the leading automotive groups in India, to explore potential collaboration opportunities particularly in electric vehicle charging stations as well as in mobility electronics and energy storage systems. Developments will be fully and promptly disclosed to the public.