Türkiye Raises $1.5 Billion in Sustainable Bond Sale

The Treasury and Finance Ministry announced that it had completed a sustainable bond issuance.

According to a statement released by the ministry on Thursday, the issuance, carried out in accordance with environmental, social and governance, or ESG, principles, totaled $1.5 billion.

The sustainable bond, which matures on Jan. 30, 2037, has a coupon rate of 7.5 percent and a yield of 7.65 percent.

More than 100 investors participated in the issuance, which attracted demand of more than three times the amount offered. Of the bonds, 32 percent were allocated to investors in the United Kingdom, 30 percent to investors in the United States, 25 percent to investors in Türkiye, 9 percent to investors in other European countries and 4 percent to investors in other countries.

The ministry had authorized BNP Paribas, Citibank, ING Bank and J.P. Morgan for the transaction.

Second Green Bond Issuance

The issuance was the second green bond issuance carried out by the Treasury and Finance Ministry to date.The ministry’s first green bond issuance, in April 2023, totaled $2.5 billion. That bond, which matures on July 13, 2030, was issued at a yield of 9.3 percent.