DenizBank Issues New Green Bond

DenizBank said it has issued a five-year green bond worth $100 million.

According to the bank, the financing was secured through DenizBank’s first partnership with the Asian Infrastructure Investment Bank, or AIIB, and will be used in line with its Sustainable Finance Framework.

The proceeds will be used to finance investments with significant environmental benefits, including renewable energy, energy efficiency, emissions reduction, and sustainable transportation.

With the latest transaction, DenizBank’s total green bond issuance to date, carried out with the participation of five international development and investment banks, has reached $470 million.

The bank also plans to expand the sustainable finance portfolio it has built over the past three years to $3 billion by the end of 2026. More than $2 billion of that portfolio will consist of investments aimed at mitigating risks arising from climate change.

The agreement for the bond issuance was signed by DenizBank Chief Executive Recep Baştuğ and Gregory Liu, director general of financial institutions and funds at the AIIB.