Türkiye Sınai Kalkınma Bankası $300 million 7.625% resettable Tier 2 sustainable bond issue

Overview:

• Türkiye Sınai Kalkınma Bankası has completed a $300 million 7.625% resettable Tier 2 sustainable bond issue, the world's first example of a sustainable Tier 2 bond.
• Citigroup Global Markets and Standard Chartered Bank served as global coordinators and joint lead managers on the issue.
• The other joint lead managers were HSBC Bank, JPMorgan Securities and Société Générale.
• Citbank, London Branch, acted as fiscal agent, paying agent and transfer agent, with Arthur Cox Listing Services serving as listing agent.
• Proceeds from the matter will be used to refinance projects satisfying defined criteria relating to climate change mitigation and sustainable infrastructure, among others.

Jon Moore - Journalist