Clifford Chance has advised the Development and Investment Bank of Turkey on its EUR 100 million sustainable bond issuance with Agence Francaise de Developpement.
According to Clifford Chance, “in addition to being TKYB’s first sustainable bond issuance, the issuance also marks the first sustainable cross-border bond issuance by a Turkish issuer under the Capital Markets Board of Turkey’s Green and Sustainable Debt Instruments Guide. At least 75% of the funds obtained through the issuance will be allocated to financing green projects in Turkey, with the remainder to be used for social/sustainability projects, in line with TKYB’s Sustainable Finance Framework.”
Clifford Chance’s team included Istanbul-based Partner Sait Eryilmaz and Associates Pelinsu Demircan and Baya Hariche and Paris-based Partner Cedric Burford and Counsel Auriane Bijon.
Clifford Chance did not respond to our inquiry on the matter.