Published on June 3rd, 2021 | by The GC Team0
Green Bond issuance puts sustainability at centre of Beko parent’s business
Beko parent Arçelik has issued a Green Bond – the first of its kind in the international markets from a Turkish industrial company – to finance its Eligible Green Projects.
The Bond was issued on 27 May 2021 and has a nominal value of €350 million with a five-year maturity and a redemption date of 27 May 2026.
The bonds were priced at 3% with a coupon rate of 3%.
Arçelik’s green projects include its energy efficient, eco efficient and circular economy adapted products and the promotion of energy efficiency in production. The proceeds will also fund the company’s sustainable water and wastewater management, pollution prevention control, renewable energy, and green buildings initiatives.
Arçelik CFO Polat Şen (pictured) said: “The bond will help reinforce Arçelik’s ESG 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 ESG 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 emphasises our commitment to sustainability and helps us continue to lead our industry in our sustainability initiatives.”