Limak prices $450mln green bond
Deal News | Feb 06, 2025 | Zawya
Limak Yenilenebilir Enerji, a Turkish energy producer, has issued a $450 million green bond with a maturity of 5.5 years at a reoffer rate of 9.625%. The proceeds from the bond, which will list on The International Stock Exchange, are earmarked to refinance existing debt, cover associated costs, and fund capital expenditures within Limak's green energy portfolio. Major financial firms such as BofA Securities and JP Morgan have played significant roles as global coordinators, with Emirates NBD Capital acting as a joint bookrunner. This issuance emphasizes Limak's commitment to enhancing its green energy initiatives.
Sectors
- Renewable Energy
- Finance
Geography
- Turkey – Limak Yenilenebilir Enerji is based in Turkey, and the issuance of the bond also originates from there.
- Guernsey – The International Stock Exchange, where the bond will be listed, is headquartered in Guernsey.
Industry
- Renewable Energy – Limak Yenilenebilir Enerji operates in the renewable energy sector, focusing on sustainable energy solutions.
- Finance – The issuance and management of the green bond involve major financial operations, emphasizing the role of financial markets and institutions.
Financials
- $450 million – The total value of the green bond issued by Limak Yenilenebilir Enerji.
- 9.625% – The reoffer rate of the 5.5-year green bond.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Limak Yenilenebilir Enerji | Issuer | Company | A Turkish renewable energy producer issuing the green bond. |
| BofA Securities | Global Coordinator and Green Structuring Coordinator | Company | One of the global coordinators for the bond issuance and the green structuring coordinator. |
| JP Morgan | Global Coordinator | Company | Acts as a global coordinator for the bond issuance. |
| Emirates NBD Capital | Joint Bookrunner | Company | Participated as the joint bookrunner for the bond issuance. |