Turkish banks are utilizing Additional Tier 1 (AT1) bonds to shield themselves against the fluctuations in the lira. Yapi Ve Kredi Bankasi AS is joining other Turkish lenders in raising AT1 capital by offering a US dollar-denominated bond, with an approximate initial price of 10%. This move is aimed at safeguarding the banks against the currency's unpredictability, and demonstrates their participation in the global credit market.