28 05 2016

Turkey’s first green bond

Linklaters has advised Türkiye Sınai Kalkınma Bankası A.Ş. on a $300 million green bond issuance, the first ever green bond from Turkey and only the second within the CEEMEA region. The proceeds will be used for private sector investments in renewable energy, energy efficiency and other areas that reduce greenhouse gas emissions.


TSKB, rated Baa3 by Moody's and BBB- by Fitch, has agreed to issue a US$300 million 4.875% 2021 green bond, the pricing on which tightened significantly during execution and saw a book of US$3.9bn - the largest seen for a Turkish FIG issuer since 2014. Turkiye Sinai Kalkinma Bankasi A.S. is a private investment and development bank. The Bank offers medium- and long-term loans, and treasury, securities underwriting, mergers and acquisitions consulting, research, and securities brokerage services. The Linklaters team was led by Capital Markets partner Richard O’Callaghan and included associate Campbell Naylor and U.S. associate Burç Özçelik.  Involved fees earner: Richard O’Callaghan - Linklaters; Burc Ozcelik - Linklaters; Campbell Naylor - Linklaters;

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