DenizBank issues USD 270 mn green bond: DenizBank, Emirates NBD’s Turkish unit which it acquired in 2019, has issued a five-year USD 270 mn green bond, according to a press release (pdf). The International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and French development finance firm Proparco all participated in what the bank said is a first for a green bond issuance in Turkey.

The breakdown: Both the IFC and EBRD invested USD 100 mn each, according to separate statements (here and here).

Where the funds will go: Proceeds from the green bond will finance sustainability and renewable energy projects that look to address the climate issues that Turkey is facing, including “extreme weather events, food security threats, water scarcity, and biodiversity loss,” the statement read.

This is not DenizBank’s first green bond: The bank raised several tranches that, with this latest bond, total to USD 350 mn.

ICYMI- Green bonds were the most popular sustainable bond issuances last year, in the UAE, with prominent names tapping the sustainable debt instruments including Taqa with a USD 1.75 bn dual-tranche issuance and First Abu Dhabi Bank which raised USD 800 mn in green Formosa bonds.

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