Vakifbank completes second sustainable Eurobond issuance

Vakifbank has completed its second sustainable Eurobond issuance within the sustainable finance program, according to a statement from the bank.

The coupon rate of the 5-year maturity USD 500m bond issuance has been set at 5.5%, down 62.5 basis points compared to the initial level.

The bank will finance environmentally-friendly and social-themed loans under the strategic sustainable banking operations with the resource to be received from the issuance, according to Abdi Serdar Ustunsalih, CEO and Executive Board Member of Vakifbank.

“The transaction received demand from nearly 180 corporate investors across the world from the Middle East to Asia, the UK and the U.S. The demand quadrupled the issuance size,” said Ustunsalih.

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