Ministry mandates banks for lease certificate issuance

ANKARA

The Treasury and Finance Ministry has mandated Bank ABC, Dubai Islamic Bank, HSBC, Kuwait Finance House and Standard Chartered for a U.S. dollar-denominated lease certificate issuance in the international capital markets.

In a report on the financing developments in 2024 and 2025 projections, unveiled last month, the Treasury said that in 2024, due to the sovereign credit rating upgrades and the improvement in Türkiye’s risk premium, there has been high participation in all bond issuances throughout the year and the liability management transaction.

According to the financing program, the Treasury plans to raise $11 billion in equivalent external funding in 2025 via bond and lease certificate issuances in international capital markets.

It added that in order to raise funding from international capital markets, conventional eurobonds, lease certificates, green bonds, social bonds and/or sustainable bonds may be issued in varying maturities depending on market conditions.

For diversification purposes, international borrowing operations in foreign currencies other than the U.S. dollar may be conducted depending on the market conditions, it added.

Meetings with international investment banks, credit rating agencies and international investors will continue in order to strengthen the investor relations and improve the investor perception of our country in the international capital markets, it said.