Ambiente
Rönesans Holding completed Türkiye's first sustainable Eurobond issuance in its sector, with $350 million in sustainable financing
The $350 million Eurobond, issued with the participation of international financial institutions including the IFC, EBRD and German Development Finance Institution DEG (Deutsche Investitions- und Entwicklungsgesellschaft), is set to reach maturity in 2029.
Sustainable Eurobonds are debt instruments issued by countries or companies in international markets to fund projects that address climate change, such as renewable energy and resource efficiency investments, as well as social benefit projects in areas like healthcare and education.
The Eurobond issuance, completed on October 3rd , attracting significant interest from international investors, with demand exceeding twice the issuance size.
On the issuance, İpek Ilıcak Kayaalp, chair of the Rönesans Holding's board, emphasized the company's strength in international partnerships and financing creation, stating:
Emphasising that Rönesans Holding is planning to achieve rapid growth in its renewable energy business, aiming to reach an installed capacity of 2,000 MW entirely from renewable energy plants over the next five years, İpek Ilıcak Kayaalp said "We are also planning to invest in areas like healthcare and public infrastructure, and will use some of the funds from the Eurobond issuance to finance hospital projects which enable better access to quality healthcare services. Funds are planned to be invested in social housing projects the company is developing around the world, investments in clean transportation, data centers, energy efficiency projects, and infrastructure projects that ensure access to clean water.
İpek Ilıcak Kayaalp emphasized that this sustainable Eurobond issuance clearly demonstrates Rönesans Holding's commitment to sustainability and its leadership in this area. She stated, "We are proud to be the first company in Türkiye to issue a sustainable Eurobond in our sector, committing to use all proceeds from the issuance to finance green and social projects.
In mid-2024, Rönesans Holding became one of the first in its sector to publish its Green Finance Framework, which also complies with Capital Markets Board of Türkiye (SPK)'s criteria for green debt instruments. With this framework, the company formalised its aims to increase accessibility to green finance instruments and extend support for green and social programs, particularly in renewable energy.
Rönesans Holding, the conglomerate's leading investment entity headquartered in Ankara , is the 53rd largest international contracting company globally and one of the largest in Europe . With operations spanning 30 countries across Europe , Central Asia , and Africa , including subsidiaries such as Ballast Nedam in the Netherlands and Heitkamp Industrial Solutions GmbH in Germany , Rönesans has been operating as the main contractor and investor successfully for 30 years in construction, energy, healthcare, real estate development and industrial investments. Putting resilience and growth through innovation at the core of the company, with a priority on sustainability and social development, Rönesans has developed projects supporting students with scholarships, academic platforms and initiatives; been a signatory of the UN Global Compact since 2015; and a signatory of the UN Women's Empowerment Principles since 2016.
Under the leadership of its president, Erman Ilıcak, Rönesans, along with its partners GIC, Meridiam Infrastructure, Sojitz, Samsung C&T, TotalEnergies, and IFC of the World Bank Group (minority shareholder in the group), has invested more than EUR8 billion into pioneering projects globally.
View original content: https://www.prnewswire.co.uk/news-releases/ronesans-holding-completed-turkiyes-first-sustainable-eurobond-issuance-in-its-sector-with-350-million-in-sustainable-financing-302291625.html