{"id":2420,"date":"2023-12-04T09:29:01","date_gmt":"2023-12-04T06:29:01","guid":{"rendered":"https:\/\/finansman.ibb.istanbul\/en\/?p=2420"},"modified":"2024-12-31T16:37:54","modified_gmt":"2024-12-31T13:37:54","slug":"imm-issued-turkiyes-first-local-government-greenbond","status":"publish","type":"post","link":"https:\/\/finansman.ibb.istanbul\/en\/imm-issued-turkiyes-first-local-government-greenbond\/","title":{"rendered":"IMM Issued T\u00fcrkiye\u2019s F\u0131rst Local Government Greenbond"},"content":{"rendered":"<div  class='avia-slideshow av-lpmhpwg2-8a0dda8ad4b0d83c8cb52eafbb6432d0 avia-slideshow-featured av_slideshow avia-slide-slider  avia-builder-el-0  el_before_av_heading  avia-builder-el-first  av-slideshow-ui av-control-default av-slideshow-manual av-loop-once av-loop-manual-endless av-default-height-applied avia-slideshow-1' data-slideshow-options=\"{&quot;animation&quot;:&quot;slide&quot;,&quot;autoplay&quot;:false,&quot;loop_autoplay&quot;:&quot;once&quot;,&quot;interval&quot;:5,&quot;loop_manual&quot;:&quot;manual-endless&quot;,&quot;autoplay_stopper&quot;:false,&quot;noNavigation&quot;:false,&quot;bg_slider&quot;:false,&quot;keep_padding&quot;:false,&quot;hoverpause&quot;:false,&quot;show_slide_delay&quot;:0}\"  itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><ul class='avia-slideshow-inner ' style='padding-bottom: 28.666666666667%;'><li  class='avia-slideshow-slide av-lpmhpwg2-8a0dda8ad4b0d83c8cb52eafbb6432d0__1  av-single-slide slide-1 slide-odd'><div data-rel='slideshow-1' class='avia-slide-wrap '   ><img decoding=\"async\" fetchpriority=\"high\" class=\"wp-image-1751 avia-img-lazy-loading-not-1751\"  src=\"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2022\/09\/surdurulebilirlik-1500x430.jpg\" width=\"1500\" height=\"430\" title='Outdoor background with sustainable park watercolor' alt=''  itemprop=\"thumbnailUrl\"   \/><\/div><\/li><\/ul><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lpmhnygb-690961e76d31f54e6241732de92f283e\">\n#top .av-special-heading.av-lpmhnygb-690961e76d31f54e6241732de92f283e{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-lpmhnygb-690961e76d31f54e6241732de92f283e .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-lpmhnygb-690961e76d31f54e6241732de92f283e .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-lpmhnygb-690961e76d31f54e6241732de92f283e av-special-heading-h3  avia-builder-el-1  el_after_av_slideshow  el_before_av_textblock '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >IMM Issued T\u00fcrkiye\u2019s F\u0131rst Local Government Greenbond<\/h3><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n<section  class='av_textblock_section av-lpmhkbas-62bd2c5e9ce0867629881ff7f00673e4 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: justify\"><strong>IMM Issued T\u00fcrkiye\u2019s F\u0131rst Local Government Greenbond<\/strong><\/p>\n<p style=\"text-align: justify\">Istanbul Metropolitan Municipality was a pioneer again. On 29th November 2023, following a very constructive 2-day roadshow, IMM took advantage of a supportive market window as well as strong momentum built throughout the roadshow to successfully price a USD 715m 5-year inaugural green bond with a 10.500% coupon. IMM issued T\u00fcrkiye&#8217;s first municipal Greenbond on 6th of December on the London Stock Exchange. \u00a0IMM\u2019s Finance Director Neslihan Vural announced this achievement by saying \u201cT\u00fcrkiye\u2019s Green Bond target for 2023 was 1.5 billion dollars. We achieved half of this goal alone as IMM. We have collected more demands than all corporate companies did\u201d.<\/p>\n<p style=\"text-align: justify\"><strong>London\/England<\/strong><\/p>\n<p style=\"text-align: justify\">The sustainable finance efforts initiated in June 2022 by the Mayor of IMM Ekrem Imamo\u011flu with his green and environmentally friendly \u0130stanbul vision born its fruit. On 29th November 2023, following a very constructive 2-day roadshow, IMM took advantage of a supportive market window as well as strong momentum built throughout the roadshow to successfully price a USD 715m 5-year inaugural green bond with a 10.500% coupon. IMM issued T\u00fcrkiye&#8217;s first municipal Greenbond on 6th of December on the London Stock Exchange.<\/p>\n<p style=\"text-align: justify\"><strong>IMM Broke A Demand Record In London Markets<\/strong><\/p>\n<p style=\"text-align: justify\">IMM\u2019s Finance Director Neslihan Vural said \u201cWe offered T\u00fcrkiye\u2019s first local government Green Bond to investors on the London Stock Exchange. 2.6 billion dollars of demand for IMM&#8217;s bond came by the end of the day. Yesterday, the demand record for 2023 was broken in the London markets. We collected more requests than all corporate companies did. We were able to sell this much because our official permission was 715 million dollars.<\/p>\n<p style=\"text-align: justify\"><strong>IMM Ach\u0131eved Half Of T\u00fcrkiye\u2019s Target<\/strong><\/p>\n<p style=\"text-align: justify\">Pointing out that the Government and the Central Bank encourage institutions in Green Financing, IMM\u2019s Finance Director Neslihan Vural said, \u201cT\u00fcrkiye\u2019s Greenbond target for 2023 was 1.5 billion dollars, we achieved half of this goal alone. Moreover, when local governments provide financing, they borrow 2 points above the central government&#8217;s borrowing rate. We borrowed at 10.50 percent while the state&#8217;s borrowing rate in these financing items was 9.30 percent; the difference is less than 2 points. This situation also demonstrates the confidence to the financial power of IMM\u201d.<\/p>\n<p style=\"text-align: justify\"><strong>Fore\u0131gn Currency Has Entered In To The Country<\/strong><\/p>\n<p style=\"text-align: justify\">Emphasizing that they deposited the money obtained from the bond issuance to the public bank, Neslihan Vural said, \u201cAt the time when the country needed foreign currency the most, we both provided foreign currency to the country and provided funds to public banks because we deposited our money in the public bank.\u201d<\/p>\n<p style=\"text-align: justify\">The demand came from more than 200 different investment institutions for IMM&#8217;s bond issuance. These demands came from mostly the United Kingdom with 34 percent, and then 17 percent came from the USA, 12 percent from the United Arab Emirates, 11 percent from Switzerland and 26 percent from other countries.<\/p>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":{"id":2423,"url":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled.jpg","sizes":{"thumbnail":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-80x80.jpg","medium":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-300x200.jpg","medium_large":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-768x512.jpg","large":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-1030x687.jpg","1536x1536":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-1536x1024.jpg","2048x2048":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-2048x1366.jpg","widget":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-36x36.jpg","square":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-180x180.jpg","featured":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-1500x430.jpg","featured_large":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-1500x630.jpg","extra_large":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-1500x1000.jpg","portfolio":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-495x400.jpg","portfolio_small":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-260x185.jpg","gallery":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-845x684.jpg","magazine":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-710x375.jpg","masonry":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-705x470.jpg","entry_with_sidebar":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-845x321.jpg","entry_without_sidebar":"https:\/\/finansman.ibb.istanbul\/en\/wp-content\/uploads\/2023\/12\/plant-growing-coins-glass-jar-money-green-grass-scaled-1210x423.jpg"}},"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-2420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/posts\/2420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/comments?post=2420"}],"version-history":[{"count":5,"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/posts\/2420\/revisions"}],"predecessor-version":[{"id":2929,"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/posts\/2420\/revisions\/2929"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/media\/2423"}],"wp:attachment":[{"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/media?parent=2420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/categories?post=2420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finansman.ibb.istanbul\/en\/wp-json\/wp\/v2\/tags?post=2420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}