Fresh greens as TSKB brings T2 but success limited

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By Virginia Furness
23 Mar 2017

Turkiye Sinai Kalkinma Bankasi (TSKB) brought new flavour to the SRI bond market this week with the first ever sustainable subordinated tier two, but the deal fell short of being a major milestone as many investors who follow green bonds are not able to buy such paper. Virginia Furness reports.

TSKB printed a $300m 10 year non-call five Basel III compliant tier two bond at par to yield 7.625% on Tuesday.

The deal, which is TSKB’s second sustainable bond, was welcomed by green experts who agreed that subordinated products are likely to become a more widely used instrument ...

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