Garanti Bank prints gender bond MTN

By Lewis McLellan
13 Jun 2018

Turkey’s Garanti bank has sold its first ever social bond, issuing a $75m private placement. The bond was purchased by the International Finance Corporation as part of its Banking on Women Programme.

Proceeds from the $75m six year bond will be lent to small businesses owned by women. The deal is expected to triple the number of loans to female owned businesses by Garanti over the life of the bond.

Research from Goldman Sachs, which supported the transaction as part ...

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