13 August 2021, London, United Kingdom – Standard Chartered Bank has been named as Loan House of the Year in the Bonds & Loans Turkey Awards, alongside two clients whose loan deals have won in their categories – Garanti BBVA has won the ESG / Sustainable Finance Deal of the Year and Karpowership for the Power Finance Deal of the Year.
The sustainability linked loan for Garanti was a first of its kind for a Turkish Bank, where Garanti has committed to no longer financing coal power plants and to source 80% of its electricity from renewable sources.
The transaction has been supported by Standard Chartered as Joint Facility Coordinator, and with senior MLA level participation, marks the commitment by Garanti and Standard Chartered in driving sustainable financing.
The syndicated term loan facility for Karpowership included a cross border transaction between Turkey and Senegal, originally identified by the Senegalese government to meet their growing power needs.
Deniz Harut, Sustainable Finance Executive Director at Standard Chartered, said “We are incredibly proud to been named Loan House of the Year in these awards and to support our clients in their winning categories. We have a strong relationship with ESG investors in Turkey, providing innovative financing structures and advising on key ESG trends.”
Standard Chartered Bank has been involved in the ESG bond market in Turkey since the market-opening trade by TSKB in 2016, leading and structuring some landmark transactions:
- First Green Bond from Turkey and the wider CEEMEA region
- First global USD Sustainability Tier 1 issued by any bank
- First Sustainable Bond from a Commercial Bank in Turkey acting as Sustainable Structuring Advisor
- Market opening Senior Sustainability Notes from TSKB in 2021
- First Sustainable Tier 2 Bond from a Commercial Bank in Turkey and Inaugural transaction under the Issuer’s Sustainability Finance Framework
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Note to Editors
About the Bonds & Loans Turkey Awards
Since 2014 the Bonds & Loans Turkey AWARDS has been recognising the most innovative and ground-breaking deals from Sovereign, Corporate and Financial Institution issuers and borrowers.
The exhaustive selection process involves close examination of deal size, tenor, structure, and distribution; analysis and background of the borrower and their accessibility to financing; with extra credit for those deals demonstrating high quality execution, accessing new pools of liquidity, innovative structuring, and opening-up new markets.
Bringing together the industry’s most high-profile figures, the Bonds, Loans & Sukuk Turkey Awards ceremony is an opportunity to raise the profile of the financial markets with the international investment community, and to inspire future issuance by Turkish companies.
We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets, and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.