Turkey’s LimakPort eyeing dollar bond with ESG step-up

By Lewis McLellan
04 May 2021

LimakPort, a Turkish port operator, said on Tuesday it will look to come to the dollar market for a 15 year amortising bond with a coupon that steps up if the issuer fails to meet sustainability targets.

“The sustainability feature is hardwired into the bond,” said a head of CEEMEA DCM at one of the leads. “But we’re not calling it a sustainability-linked bond because the issuer’s framework isn’t ready and it has not yet received a second opinion.”

The issuer will be publishing a ...

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