The Paris, London and Istanbul offices of leading international law firm Clifford Chance have advised the joint bookrunners on the Industrial Development Bank of Turkey (TSKB)’s USD 300 million Rule 144A/Reg S 9.375% sustainable notes due 2028. TSKB’s vision is to maintain sustainable growth in Turkey by adding value to the Turkish economy (principally through supporting the private sector with medium and long-term financing), which reflects the TSKB’s goals of being the pioneering bank in Turkey’s sustainable development and extending resources to contribute to the United Nation’s sustainable development goals.

The proceeds of TSKB’s sustainable bonds issuance will be used to finance or re-finance projects eligible under TSKB’s Sustainability Framework, in line with the International Capital Market Association’s (ICMA) Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines.

The Clifford Chance team was led in Paris by US Counsel Olivier Plessis, together with Alex Bafi, US Partner, and Garo Yaghsezian, US Associate; in London, with Paul Deakins, Partner, and Ayan Koshal, Senior Associate; and in Istanbul, with Sait Eryilmaz, partner, and AliCan Altiparmak, Senior Associate.