7 December 2023
Clifford Chance advises on the Istanbul Metropolitan Municipality's Green Bond offering, the first ever Municipal Green Bond issuance in the CEEMA region
Global law firm Clifford Chance advised the joint lead managers on the issue of US$715,000,000 Green Bonds due 2028 by the Istanbul Metropolitan Municipality. The Reg S/144A offering was the first green bond issued by a municipality in Türkiye, as well as the CEEMA region, with the proceeds of the offering to be used to finance Eligible Green Projects under the Sustainable Finance Framework of the Municipality.
The Clifford Chance teams, based in London and Istanbul, were led by partners Matt Fairclough, Johannes Juette and Sait Eryilmaz. The partners were supported by senior associates Başar Kırka, Ali Can Altiparmak, and Jeffery Hung and associates, Bilgesu Cakmak and Trey Oxendine.