Türkiye İş Bankası (İşbank) has issued Türkiye’s first digitally native note (DNN), facilitated by Euroclear.
The US$100 million DNN was issued on Euroclear’s Digital Financial Market Infrastructure (D-FMI), with the International Finance Corporation (IFC) as the sole investor and Citi as the sole dealer and issuing and paying agent.
Proceeds from the issuance will go towards increasing financial access to small businesses, farmers and entrepreneurs across areas impacted by earthquakes in the country.
Isabelle Delorme, head of product strategy and innovation at Euroclear, commented, “This issuance demonstrates how digital innovation and sustainable finance can go hand in hand, while maintaining the same regulatory certainty, liquidity, and settlement efficiency as with traditional bonds.”
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