TSKB Arranged the First Sukuk Issuance According to UN Sustainable Development Goals Framework
TSKB broke yet another ground in the field of capital markets and successfully issued the first Sukuk with a focus on the UN Sustainable Development Goals (SDGs). Commenting on the TL 45 Million-worth issuance, Onur Aksoy, Head of Capital Markets at TSKB Investment Banking, said: "We are delighted to having successfully issued a Sukuk with only few previous examples globally. The Sukuk was issued according the framework of the TL 400 million-worth SDG Sukuk issuance programme created on behalf of Zorlu Energy. The issuance we have arranged for our client Zorlu Energy was the first ever SDG related Sukuk on behalf of an energy company in the world. As TSKB, we will continue to strengthen our identity as an innovative bank regarding sustainability with our initiatives in capital markets”.
The Industrial Development Bank of Turkey (TSKB) broke another ground and successfully issued the first Sukuk within the framework of the United Nations Sustainable Development Goals after having completed Turkey's first lease certificate (sukuk) issuances in natural gas distribution, food, transport and healthcare sectors as well as the first sustainable Sukuk issuance, a first of its kind transaction globally. The issuance arranged by TSKB provided Zorlu Enerji Elektrik Üretim A.Ş. with funds worth TL 45 million.
Stressing that TSKB broke another ground with this year's SDG Sukuk following the Sustainable Sukuk issuance, the first of its kind in the world, as performed by TSKB on behalf of Zorlu Energy in 2020, Onur Aksoy, Head of Capital Markets at TSKB Investment Banking, said: "We are delighted to having successfully issued a Sukuk that is quite new in global markets within the framework of the TL 400 million-worth SDG Sukuk issuance programme we have created on behalf of Zorlu Energy. While identifying the scope of the SDG Sukuk issuance programme, we considered the objectives of supporting Zorlu Energy in terms of generating clean energy based on renewables, strengthening sustainable energy supply, making improvements in energy distribution infrastructure and supporting waste management practices. Zorlu Energy will contribute to SDG 7: Affordable and Clean Energy, SDG 12: Responsible Consumption and Production and SDG 13: Climate Action through the renewable energy investments to be made in the field of wind and solar energy. Differentiating from previous SDG related Sukuks issued on behalf of finance institutions for the financing of the projects under SDGs to date, the issuance we have arranged for our client Zorlu Energy was the first ever SDG related Sukuk on behalf of an energy company in the world. As TSKB, we will continue to strengthen our identity as an innovative bank regarding sustainability with our initiatives in capital markets”.
About Zorlu Enerji Elektrik Üretim A.Ş.:
Zorlu Energy was established in 1993 to operate in different areas of the energy sector and is an energy company providing integrated services on a global scale. It is the leading private power generation company in Turkey with a total installed capacity of 1,006 MW, comprising of 659 MW in Turkey and 346 MW abroad. In addition to electricity and steam generation and the sales of such electric and steam power by Zorlu Energy, its only publicly-held company, Zorlu Energy Group of Companies has an integrated service mix coupled with operations in various sub-sectors of the energy sector such as electricity trade, electricity distribution, sales and installation of solar panels, natural gas trade and distribution, construction, operation and maintenance of power plants, and a network of electric car charging stations.
