DenizBank renewed its syndicated loan by 134 percent in US dollar, euro and Chinese yuan currencies, with maturities extending up to three years, securing 810 million dollars in water-focused blue financing.
The proceeds from the transaction, which is the largest blue syndicated loan carried out by a commercial bank globally and Türkiye’s first blue syndication, will be used in line with DenizBank’s Sustainable Finance Framework. The financing will support blue urban infrastructure development, efficiency improvements in irrigation systems, wastewater management, sustainable fisheries and sustainable tourism practices that create a positive impact in the field of water.
The signing ceremony for the transaction was held with the participation of DenizBank CEO Recep Baştuğ and the main lenders involved in the syndication.
DenizBank CEO Recep Baştuğ made the following statement regarding the transaction: “As a bank, we direct our financial resources toward investments that help reduce risks based on climate change. Since 2023, we have allocated 54 percent of the 4.4 billion dollars in fresh funding we have provided to our economy to sustainability-linked loans. Based on the reality of water stress, which also affects Türkiye, we consider the protection and efficient use of water resources among our priority issues. In agriculture, which is the sector where water is used most intensively and where we hold a leading position among private banks, we support efforts that encourage the conscious and efficient use of resources. In emissions-intensive sectors, we are diversifying our financing solutions to support our customers’ transition to a low-carbon economy. Our transaction, which is the largest blue loan among bank syndications worldwide, also represents an important example in terms of deepening water-focused sustainable finance practices in our country. In the coming period, we will continue our approach focused on channeling resources to projects aligned with sustainable development goals.”
The transaction was carried out with the participation of 42 banks from 20 countries. Mizuho Bank acted as the agent bank, while Abu Dhabi Commercial Bank, Commercial Bank of Dubai, Emirates NBD Capital and ICBC served as coordinators. The sustainability coordinators of the transaction were Emirates NBD Capital, ING and SMBC.
