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ISTANBUL - Turkiye Garanti Bankasi A.S. (TGBD) announced Monday it will issue a $20.2 million blue biodiversity bond to institutional investors based outside Turkey, according to a press release statement from the bank.
The 1,100-day bond issuance has been submitted to Turkey’s Capital Markets Board (CMB) for approval and is scheduled to be completed on November 3, 2025.
This follows a previous disclosure the bank made on December 27, 2024, though details of that earlier announcement were not specified in Monday’s statement.
Blue bonds are a relatively new type of debt instrument designed to raise capital specifically for projects related to ocean conservation and sustainable marine activities. Biodiversity bonds typically fund initiatives aimed at protecting ecosystems and wildlife.
The bank, commonly known as Garanti BBVA, is one of Turkey’s largest private banks. The financial institution did not provide specific details about how the proceeds from the bond would be utilized or which marine conservation projects might benefit from the funding.
The bond issuance represents a specialized financial instrument targeting environmental sustainability within the marine ecosystem, joining the growing trend of purpose-specific debt instruments in international financial markets.
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