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Borsa Istanbul: Announcement About Maturity Date Extension And Interest Rate Change Of An Index Constituent In BIST-KYD Indices

Board of Debt Securities Holders had a meeting on 10.20.2023 to discuss an agreement with investors for changing the maturity date and interest rate of the entire TRSNRISA2412 ISIN code security which is issued by Nurol İnşaat ve Ticaret A.Ş. at 12.30.2021 with maturity date 12.24.2024 and annual simple interest rate 26.50% (or the higher of the coupon interest, calculated with the BIST TLREF Index Return + 600 basis points per annum additional return,). The decision was made to extend the maturity date to 01.15.2027 and increase the annual interest rate to 49.75% (simple) at meeting. The Board of Directors' approval of this decision was announced on the Public Disclosure Platform (PDP) on 10.23.2023.

 

In accordance with Article 6 of the BIST-KYD Indices Methodology, which outlines procedures for matters not explicitly covered by the Methodology, Borsa İstanbul Management has decided on the following actions, effective as of 11.21.2023.

-          To convert the return type from floating rate, as utilized in the Index calculations of the security, to fixed rate, define new coupon rates, and extend its maturity.

 -          As a result of this change, the security will be excluded from the BIST-KYD Corporate Bond Floating Rate and BIST-KYD Corporate Bond Floating Rate T1 Indices, with the last carried-forward prices calculated based on the pre-restructuring values.

 -          To be included in the BIST-KYD Corporate Bond Fixed Rate and BIST-KYD Corporate Bond Fixed Rate T1 indices, with the last carried-forward prices calculated based on the pre-restructuring values and the yield to maturity calculates according to the new maturity date and coupon rates.

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