Renesans Holding Secures $350 Million Sustainable Eurobond, Ushering in a New Era of Sustainable Investment
In a groundbreaking move for the Turkish construction sector, Renesans Holding has successfully completed the issuance of a $350 million sustainable Eurobond. This achievement marks a significant step forward in the company’s commitment to sustainable development and social impact. The issuance, which matures in 2029, attracted significant interest from a diverse range of international investors, including prominent financial institutions like the IFC, EBRD, and DEG (Deutsche Investitions- und Entwicklungsgesellschaft), with demand exceeding twice the issuance size.
This substantial investment will be channeled into a variety of sustainability and social impact projects across the globe. Renesans Holding has outlined its commitment to a greener future by prioritizing renewable energy projects, aiming to reach an impressive installed capacity of 2,000 MW entirely from renewable energy sources within the next five years. Beyond energy, the company is dedicated to investing in essential social infrastructure, including healthcare and public infrastructure projects, contributing to improved access to quality healthcare services worldwide.
A Commitment to Sustainable Growth and Social Impact
İpek Ilıcak Kayaalp, chair of Renesans Holding’s board, emphasized the company’s dedication to sustainable practices and its leadership in this domain. She stated, “We are proud to be the first company in Türkiye to issue a sustainable Eurobond in our sector, committing to use all proceeds from the issuance to finance green and social projects. While we generate 50% of our revenues abroad, we are increasing the approximately €10 billion investments we have made in our country to date with sustainable projects. Our sustainable financing methods will serve as an important example for our sector, leading the way for the environmental and social dimensions of investments in our country to gain prominence.”
The success of this Eurobond issuance is a testament to Renesans Holding’s strong international partnerships and its commitment to building a more sustainable future. The company’s commitment to sustainability has been further solidified through the development of its Green Finance Framework, which aligns with the Capital Markets Board of Türkiye’s criteria for green debt instruments. This framework outlines the company’s vision for increasing accessibility to green finance instruments and extending support for green and social programs, particularly in renewable energy.
Renesans Holding: A Leader in Sustainable Development
Renesans Holding, a global leader in construction, energy, healthcare, real estate development, and industrial investments, has a proven track record of success spanning 30 years. With operations in over 30 countries across Europe, Central Asia, and Africa, the company is committed to leaving a positive impact on the communities it serves. Renesans Holding’s commitment to sustainability is evident in its various initiatives, including its support for students through scholarships and academic platforms, its adherence to the UN Global Compact, and its signatory status of the UN Women’s Empowerment Principles. The company is actively driving positive change through its pioneering projects and partnerships with leading global institutions like GIC, Meridiam Infrastructure, Sojitz, Samsung C&T, TotalEnergies, and IFC of the World Bank Group.
The successful issuance of this sustainable Eurobond marks a significant milestone for Renesans Holding and highlights the company’s leading role in promoting sustainable practices and social responsibility. The commitment to using the proceeds to fund a diverse range of projects across various sectors signifies Renesans Holding’s dedication to shaping a more sustainable future for generations to come.
