Akbank heralds return of Turkish banks

摘要

AKBANK paid a minimal concession for the privilege of reopening the market for Turkish banks on Tuesday, with the ESG element of its US$500m 10-year non-call five sustainability Tier 2 providing a helpful tailwind. The lender was out on the same day as the sovereign, bringing the first international deal from a Turkish bank since Ziraat Bank sold a senior unsecured sustainable bond in late January.