Türkiye's First Sustainable Lease Certificate Issued by TSKB
Having recently celebrated its 70th anniversary, the Industrial Development Bank of Türkiye (TSKB) wasted no time to break yet another ground and successfully issue the first sustainable lease certificate in Türkiye. Onur Aksoy, Head of Capital Markets - Investment Banking at TSKB, commented on the issuance worth TL 50 million, delivered as part of the sustainable Sukuk Issuance Program worth TL 450 million in total on behalf of Zorlu Energy. “So far, there have been so few issuances labeled as Green Sukuk around the world. In fact, it is possible to state that this issuance worth TL 50 million on behalf of Zorlu Energy marks the first of its kind not only in Türkiye but also in the world, when the Sustainable Sukuk Framework content is considered. We are delighted to take TSKB to new grounds in sustainable banking through our investment banking activities.”
The Industrial Development Bank of Türkiye (TSKB) broke another ground and successfully issued Türkiye's first sustainable lease certificate after having completed Türkiye's first lease certificate (sukuk) issuances in gas distribution and food sectors. The first issuance worth TL 50 million is completed under the sustainable Sukuk Issuance Program on behalf of Zorlu Energy, which amounts up to a total of TL 450 million.
Emerging as the third lease certificate issued by TSKB, the issuance took place on a 1-year maturity with periodically-variable return payments every three months and targeted qualified investors. As part of the issuance, the sales to investors was supported by Yatırım Finansman Securities, a TSKB affiliate. Onur Aksoy, Head of Capital Markets - Investment Banking at TSKB, commented on the issuance that took place on 3 June. “So far, there have been so few issuances labeled as Green Sukuk around the world, including those in the Middle East and Malaysia. However, this issuance performed on behalf of Zorlu Energy and structured in a framework compatible with the 4 basic standards of the International Capital Markets Association (ICMA) also included goals such as sustainable utilities and clean transport, thus going beyond the renewable energy-related goals in the few Green Sukuk issuances of the past. Therefore, our issuance is a first in the world, when it is considered in terms of the Sustainable Sukuk Framework content. We are delighted to take TSKB to new grounds in sustainable banking through our investment banking activities.”
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 Türkiye with a total installed capacity of 1,006 MW, comprising of 659 MW in Türkiye 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.
