Green Bond Issue of 750 Million Dollars from Aydem Renewable Energy

Aydem Renewable Energy, Turkey’s largest company that produces energy from 100% renewable resources, successfully issued Eurobond bonds. While the company was issuing Eurobonds amounting to 750 million dollars with a maturity of 5.5 years, the interest rate was 7.75%.

Aydem Renewable Energy, the affiliate of Aydem Energy, which is one of the pioneers and leading players of the energy sector in Turkey, operating in the field of renewable energy, has completed the demand collection process for the green bond issued to be sold to qualified investors abroad.

Aydem Renewable Energy, which has collected a demand of 1.6 billion dollars with the participation of 131 investors, including long-term investors, as a result of the demand collection period, which attracted great interest from international investors, signed the bond issuance with the highest amount in Turkey at the first time. This issuance is also Turkey’s largest green bond issuance.

Expressing his satisfaction with Aydem Renewable Energy’s successful export transaction, Aydem Energy CEO and Aydem Renewable Energy Board Chairman İdris Küpeli said; “With this transaction, which is our first Eurobond issuance, we have realized the highest amount of bond issuance in Turkey at once and in a single item. At the same time, we signed the largest transaction by a renewable energy company in the CEEMEA (Central & Eastern Europe, Middle East and Africa) Region. This success; We consider it as an indicator of the confidence that international markets have in our country, our group and Aydem Renewable Energy company. We wish the best for our country and our company”.

Kupeli: “With the income to be obtained from the issuance, the entire loan debt of our company to the banks will be closed and new investments will be financed”
Stating that realizing such a big issuance after a difficult year due to the pandemic is a very important step in achieving their future goals, Küpeli said, “We have collected a demand of 1.6 billion dollars from 131 investors. The nominal value of the bonds to be issued was determined as 750 million dollars and a maturity of 5.5 years. The bonds will be issued with a 3.5-year grace period and an interest rate of 7.75 percent. With the income we will obtain, we will make a great contribution to the country’s economy. At the same time, we will close the entire loan debt of Aydem Renewable Energy to the banks; We will use our remaining income to finance hybrid investments to be realized in the next 3 years, in line with the goal of increasing the installed capacity of our company by 2 times.”

The issuance is expected to be completed on Monday, August 02, following the Capital Markets Board’s approval of the issuance document.