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Istanbul Buyuksehir Belediyesi (Istanbul Metropolitan Municipality or IMM) rated BB- / B1 by Fitch and Moody's (in line with the Republic of Turkiye) will be conducting fixed income investor meetings in GCC cities next month.
The small group dedicated fixed income investor meetings will be held in Doha (Monday, 9 December) , Abu Dhabi (Tuesday, 10 December) and Dubai (Wednesday, 11 December).
Emirates NBD Capital and HSBC are helping arrange the meetings.
Istanbul Metropolitan Municipality, the largest European city and municipality by population, last year raised $715 million via a green bond under its sustainable finance framework.
At that time investors required a “substantial spread over the sovereign to compensate for the political risk attached to the credit and the potential illiquidity of the instrument”, according to IFR.
(Writing by Brinda Darasha; editing by Seban Scaria)
