Bond Vak?fBank 0% ( TRQVKFBE1627 ) in TRY

Issuer	Vak?fBank
Market price	100 % ⇌
Country	Turkey
ISIN code	TRQVKFBE1627 ( in TRY )
Interest rate	0%
Maturity	21/10/2016 - Bond has expired
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Minimal amount	1 000 TRY
Total amount	300 000 000 TRY
Detailed description	Vak?fBank is a major Turkish state-owned commercial bank, offering a wide range of financial services both domestically and internationally. This financial report provides an overview of a specific bond issuance, identified by its ISIN Code TRQVKFBE1627. The bond was issued by Vakifbank, officially Türkiye Vak?flar Bankas? T.A.O., a significant financial institution in Turkey. Established in 1954, Vakifbank stands as one of Turkey's largest state-owned banks, playing a pivotal role in the nation's financial sector by offering a wide array of banking services encompassing corporate, commercial, retail, and investment banking, thus contributing substantially to the financing of various economic sectors within Turkey. This particular obligation, denominated in Turkish Lira (TRY), represented a total issuance size of 300,000,000 TRY, with a minimum purchase size established at 1,000 TRY. Notably, the bond carried a 0% interest rate, indicating it was structured without periodic coupon payments, likely as a zero-coupon instrument where the return to investors would have been realized at par upon maturity. Its payment frequency was set at 1, implying a single payment at the bond's expiry. The bond reached its maturity date on October 21, 2016, at which point its market price was recorded at 100%, confirming its full redemption and the successful repayment of principal to bondholders. This issuance has therefore completed its financial lifecycle, having been fully redeemed as per its contractual terms.