{"id":80367,"date":"2023-11-01T03:00:23","date_gmt":"2023-11-01T03:00:23","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/11\/01\/turkeys-akbank-signs-off-on-usd-600-mn-in-sustainability-linked-loans\/"},"modified":"2023-11-01T03:00:23","modified_gmt":"2023-11-01T03:00:23","slug":"turkeys-akbank-signs-off-on-usd-600-mn-in-sustainability-linked-loans","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/11\/01\/turkeys-akbank-signs-off-on-usd-600-mn-in-sustainability-linked-loans\/","title":{"rendered":"Turkey\u2019s Akbank signs off on USD 600 mn in sustainability-linked loans"},"content":{"rendered":"

<\/a><\/strong>Turkey\u2019s Akbank signed <\/strong>agreements for two sustainability-linked loan facilities raising some USD 600 mn at 75 bp above US treasuries<\/strong>, according to a statement<\/a>. The sustainability-linked facilities amount to USD 265.5 mn and EUR 318.45 mn with a 367-day tenor, the company notes. The issuance attracted strong demand from global markets leading to a 168x oversubscription from the initial launch figure. Akbank scaled back the facilities to 146x of the launch amount, the statement noted.<\/p>\n

Where is the money going? <\/strong>Proceeds of the facilities will go towards the bank\u2019s trade finance purposes including refinancing, the statement notes. The facilities will cover a decarbonization strategy and an increase in the aggregate of renewable energy loans made under its Sustainable Finance Framework.<\/p>\n

Coordinators and bookrunners: <\/strong>Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, Standard Chartered Bank and The Commercial Bank (P.S.Q.C.) acted as joint coordinators and bookrunners on the transaction. Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation all served as sustainability coordinators on the transaction. Emirates NBD Capital Limited acted as the documentation agent for the loan, and Emirates NBD Bank (P.J.S.C.) acted as facility agent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Turkey\u2019s Akbank signed agreements for two sustainability-linked loan facilities raising some USD 600 mn at 75 bp above US treasuries, according to a statement. The sustainability-linked facilities amount to USD 265.5 mn and EUR 318.45 mn with a 367-day tenor, the company notes. The issuance attracted strong demand from global markets leading to a 168x […]<\/p>\n","protected":false},"author":1,"featured_media":80368,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,11,164,191],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-green-finance","tag-turkey","wpautop","entry"],"acf":{"mongo_id":"fd0761f2-56ea-40a0-9643-11bd14f082b8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1654.jpg","photo_position":"above","related_issue":[80357],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.ac29f40f-16cc-46cf-a104-cb888faade3c.mp3"},"yoast_head":"\nTurkey\u2019s Akbank signs off on USD 600 mn in sustainability-linked loans - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/11\/01\/turkeys-akbank-signs-off-on-usd-600-mn-in-sustainability-linked-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Turkey\u2019s Akbank signs off on USD 600 mn in sustainability-linked loans\" \/>\n<meta property=\"og:description\" content=\"Turkey\u2019s Akbank signed agreements for two sustainability-linked loan facilities raising some USD 600 mn at 75 bp above US treasuries, according to a statement. 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