Clifford Chance Advises Akbank on the World’s First Digital Gender Bond Issuance

Global law firm Clifford Chance has advised Akbank on the issuance of its inaugural Digitally Native Note representing the world’s first digitally issued gender bond. The USD 100 million bond, with a five-year maturity, was placed with the IFC – International Finance Corporation and marks a significant advancement in both digital capital markets and sustainable finance.

The transaction was executed and settled via Euroclear’s Digital Financial Market Infrastructure (D-FMI), utilising Distributed Ledger Technology (DLT) to provide secure, decentralised record-keeping and efficient settlement. This innovative approach highlights the growing role of DLT in transforming the global financial landscape.

Proceeds from the bond will be directed towards projects aimed at expanding access to finance for women-owned small and medium enterprises (WSMEs) and increasing women’s access to mortgage loans in Türkiye. The initiative is expected to stimulate job creation and foster inclusive economic development by supporting women’s participation in the Turkish economy.

The Clifford Chance team advising on this landmark transaction was led by Matt Fairclough (Partner, London) and Sait Eryılmaz (Partner, Istanbul), supported by Alexander Tollast (Counsel, Paris), Ali Can Altıparmak (Senior Associate, Istanbul) and Alper Eski (Associate, Istanbul).

Partner Matt Fairclough said, “We are proud to have supported Akbank on this landmark transaction, which combines innovation in capital markets with a strong commitment to gender equality. This issuance reflects Clifford Chance’s dedication to advising clients on pioneering deals that drive sustainable finance and create meaningful impact by empowering women entrepreneurs and fostering inclusive economic growth.”