Bond Vak?fBank 0% ( TRQVKFBK1629 ) in TRY

Issuer	Vak?fBank
Market price	100 % ⇌
Country	Turkey
ISIN code	TRQVKFBK1629 ( in TRY )
Interest rate	0%
Maturity	25/11/2016 - Bond has expired
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Minimal amount	1 000 TRY
Total amount	247 455 410 TRY
Detailed description	Vak?fBank is a major Turkish state-owned commercial bank, offering a wide range of financial services both domestically and internationally. An analysis of the TRQVKFBK1629 bond, issued by Vakifbank, one of Turkey's largest and most prominent state-owned financial institutions, provides insight into its structure and lifecycle. This particular debt instrument, denominated in Turkish Lira (TRY) and originating from Turkey, was noteworthy for its 0% interest rate, classifying it as a zero-coupon bond, where investor returns are derived from the difference between its purchase price and its par value at redemption. The bond's total issuance size amounted to 247,455,410 TRY, with a minimum investment threshold set at 1,000 TRY. Having reached its scheduled maturity date on November 25, 2016, this obligation has been fully redeemed, as evidenced by its current market price of 100%, indicating that principal was successfully disbursed to bondholders, thus concluding its financial existence.