Istanbul-based household appliance manufacturer Arçelik announced today a €350 million green bond issuance. Listed on the Euronext Dublin Stock Exchange, the offering marks the first of its kind in the international markets from a Turkish industrial Company.
Arçelik’s issuance comes shortly after the company released its Green Financing Framework, which outlines eligible use of proceeds, project evaluation and selection criteria, management of proceeds and reporting requirements for green bond issues. The framework defines seven categories for eligibility, including Energy Efficient Products, Eco-efficient and/or Circular Economy Adapted Products, Energy Efficiency in Production, Pollution Prevention and Control, Sustainable Water and Wastewater Management, Renewable Energy, and Green Buildings.
Arçelik CFO Polat Şen said:
“We are thrilled to announce the issuance of our corporate Green Bond. The bond will help reinforce Arçelik’s ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. credentials and enable us to put sustainability at the centre of our business, to ensure that we are continually aligned with our vision, Respecting the World, Respected Worldwide. The success of green bond issuance illustrates the investors’ confidence in Arcelik’s ability to implement ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. projects. The bond will support us to diversify our funding options with a rapidly growing finance mechanism, allowing Arçelik to access a broader base of long-term and green investors. This bond emphasizes our commitment to sustainability and helps us continue to lead our industry in our sustainability initiatives.”
The five-year bonds were priced at 3% with a coupon rate of 3%.
The post Arçelik Issues Turkey’s First International Corporate Green Bond appeared first on ESG Today.