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Turkish state-run lender Halkbank has applied to Türkiye's Capital Markets Board (CMB) for approval to issue up to $5 billion in debt instruments abroad, marking the lender's largest overseas borrowing program to date.
The application follows a U.S. federal court's dismissal of a criminal case accusing Halkbank of helping Iran evade U.S. sanctions. The ruling ends a nearly nine-year legal battle and boosts the bank's access to international markets.
According to the bank's disclosure, the authorization allows Halkbank to raise up to $5 billion from international investors through a range of debt instruments.
The program includes conventional bonds and subordinated securities that qualify as regulatory capital, including Tier 1 and Tier 2 instruments, which banks commonly use to strengthen capital buffers and diversify funding sources.
The debt instruments may be sold outside Türkiye through public offerings, private placements or transactions with qualified institutional investors, in different tranches and with varying maturities depending on market conditions and investor demand.
Halkbank previously secured approval for a foreign debt issuance program of up to $1 billion in January, with the authorization remaining valid until January 2027.
Following the U.S. court's decision to dismiss the case, General Manager Recep Suleyman Ozdil signaled that the ruling could improve Halkbank's access to international funding, strengthen ties with correspondent banks, and deepen cooperation with global financial institutions.
"We expect this development to increase our access to foreign funding," Ozdil said. "This will allow us to put more resources from international markets at the service of the real economy and further increase our support for production, investment, employment and exports."
Founded in 1938, Halkbank is Türkiye's third-largest state-owned lender, with total assets of €85.4 billion ($99 billion) at the end of 2025, according to official figures.
The shares of the bank listed on Borsa Istanbul were trading down 1.5% during the Friday session.
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