Eurobonds

Features

• On the secondary market, the standard value date is "transaction date + 3 business days (T+3).
• Coupon interest is normally fixed-rate although variable-rate Eurobonds do exist.
• Although these instruments are issued on a long-term basis, they may be sold for cash at any time before maturity, in which case market conditions in effect at the time apply. In a market where interest rates are falling, these instruments make it possible to earn returns higher than otherwise expected but the opposite is also possible.
• These are bearer instruments but they are never delivered physically to the owner.
• There is no tax withholding on Eurobond coupon payments. The recipient of the income is required to report it however.
• To trade in Eurobonds, all you need is a Current/Checking Account.
• A Eurobond is a foreign currency investment vehicle that secures high yields in an environment in which foreign currency and Turkish Lira bank deposit interest rates are falling. At our bank, the minimum Eurobond buying limit is USD 10,000 while the minimum selling limit is USD 5,000 (or the equivalent).
• Eurobonds may be bought and sold at any Garanti branch. They may also be traded on our Online Banking (Turkish Internet Branch-garanti.com.tr), in which case the minimum limit is USD 5,000 and the maximum limit is USD 250,000 (or the equivalent).

For more information;

You can visit the nearest Garanti branch to have more information about Eurobonds.

Foreign nationals who are residing in Turkey shall submit their passport or residence permit and tax identification number to the bank in order to trade and invest in securities. Non resident individuals or legal entities, in addition to the documents mentioned above, shall also submit a notarized evidence issued by the official public institutions in their own country indicating that all their worldwide income is subject to taxation in the country where they reside.