ING Türkiye renewed its syndicated loan with an amount of EUR 176 million. ING Türkiye CEO Alper Gökgöz, stating sustainability as one of key strategic pillars, said: “As ING, we believe that finance sector has a transformative power in creating a sustainable future. We aim to contribute to Türkiye’s green transformation by utilizing ING’s global network,  expertise and experience in sustainable finance. We prioritize to provide our customers with the most appropriate solutions for their financing needs, thereby to help them to be one step ahead in the competition. In this regard, we are pleased to renew our sustainability-linked syndicated loan. We believe the proceeds of this transaction, which will be used for general trade finance purposes, will contribute to both our customers and the Turkish economy.”

ING Türkiye, part of ING Group which aims to be a  pioneer in the field of sustainability, attracted 2.5 times demand vs its targeted amount from increased number of banks and different countries. ING Türkiye renewed its sustainability-linked syndicated loan with an amount of EUR 176 million.

31 banks from 18 countries participated in the deal, wherein ING Bank N.V. and Emirates NBD Capital Limited acted as Sustainability Coordinators, Emirates NBD Capital Limited acted as Coordinator and Emirates NBD Bank (P.J.S.C.) acted as Agent.

The proceeds of 367-day syndicated loan will be used for general trade finance purposes, and all-in pricing is SOFR + 2.50% for USD and Euribor + 2.25% for EUR in line with the market dynamics. There are three sustainability performance criteria in the renewed syndicated loan. Pricing will be improved in case ING Türkiye achieves targeted levels of Key Performance Indicators (“KPIs”) regarding new asset generation in green and social loans, also, improvement in its Organization Health Index (OHI) score.

Alper Gökgöz: We channel our global expertise and experience in sustainable finance to Türkiye.

ING Türkiye CEO Alper Gökgöz, stating that sustainability is positioned as one of the key strategic pillars, said: “As ING, we believe that finance sector has a transformative power in creating a sustainable future. In this regard, we prioritize sustainable finance and target net zero in our own operations. We aim to contribute to Türkiye’s green transformation by utilizing our global expertise and experience in sustainable finance as well as providing access to ING’s global network. We have a holistic strategic approach to sustainable finance and believe that the ultimate goal is the impact we create. In line with this approach, we help our customers who have the ambition to establish their sustainable finance roadmaps and gain access to international loan and debt capital markets. We are glad that ING is positioned as one of the action leaders in wholesale banking in Türkiye in sustainable finance. We also aim keeping our customers one step ahead in the competition by providing the most appropriate solutions for their financing needs. In this regard, we are pleased that ING Türkiye’s fourth sustainability-linked syndicated loan is renewed. We believe the proceeds of this transaction, which will be used for general trade finance purposes, will contribute to both our customers and the domestic Turkish economy.”

Hitesh Asarpota, CEO, Emirates NBD Capital said “We are proud to have acted as Sustainability Coordinators alongside ING on this significant transaction. This successful syndication underscores our commitment to supporting sustainable finance initiatives and highlights our expertise in structuring complex financing solutions that align with our clients’ strategic objectives. Our involvement demonstrates our dedication to fostering sustainable economic growth across the MENAT region. We look forward to continuing our partnership with ING Türkiye and other leading institutions to drive positive environmental and social impact through innovative financial solutions.

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About ING

ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 40 countries. ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N). Sustainability is an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks. ING's Environmental, Social and Governance (ESG) rating by MSCI was affirmed 'AA' in July 2023. As of December 2023, Sustainalytics considers ING’s management of ESG material risk to be ‘strong’. ING Group shares are also included in major sustainability and ESG index products of leading providers Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. Follow our progress on ing.com/climate. 

For further information about ING’s sustainability approach, please visit: https://www.ing.com/Sustainability/Sustainability-approach.htm.

About Emirates NBD

Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2024, total assets were AED 902 billion, (equivalent to approx. USD 246 billion). The Group has operations in the UAE, Egypt, India, Türkiye (as Deniz bank), the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 858 branches and 4,450 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.89 billion. 

Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.

Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE’s main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE’s Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.