YEDAS sukuk issuance brings two awards to Aktif Bank
Thanks to the Turkey's first lease certificate, which is exclusive to the electricity distribution industry and supports the sustainability criteria and which has been issued last year by Aktif Bank for YEDAS (Yesilirmak Elektrik Dagitim A.S.), Aktif Bank received the awards, namely " Innovative Deal of the Year-Turkey" and " Project Infrastructure Finance Deal of the Year-Turkey", as part of the Corporate and Investment Banking Awards held by Asian Banking and Finance (ABF).
Aktif Bank, the largest privately-owned investment bank in Turkey, is now crowned with two awards as part of the Corporate and Investment Banking Awards, held by Asian Banking and Finance (ABF) that grants awards to the best entities in the banking and finance industry. Having issued Turkey's first lease certificate that supports the sustainability criteria in 2020, to fund YEDAS (Yesilirmak Elektrik Dagitim A.S.), Aktif Bank is deemed worthy of the awards, namely "Innovative Deal of the Year -Turkey" and the "Project Infrastructure Finance Deal of the Year-Turkey" by ABF, thanks to such issuance. The determination criteria for such awards are based on the solutions that are developed against the challenges by the entities, as well as the productivity of the projects they execute and also the impact of such projects on the customers, by the Asian Banking and Finance Awards organization, which grants awards to the triumphant banks and financial institutions in the Asia-Pacific region.
Barlas: "We are honored to become crowned with the awards thanks to our innovative approach"
Highlighting that they have accomplished a distinctive deal in the industry thanks to the YEDAS sukuk they have issued in 2020, Murat Barlas, Aktif Bank's Executive Vice President in charge of Treasury and Private Banking remarked as follows; "The issuance, we have accomplished last year and which is based on the electricity distribution amounts and for which YEDAS was the originator, was Turkey's first lease certificate that is exclusive to the electricity distribution industry and supports the sustainability criteria. By means of such issuance, whereby the electricity distribution business is financed directly from the capital market and the return of which covers hundreds of thousands of individuals, we offered a robust collateral composition with a low concentration risk to the capital market investors, directly. We are so proud to receive two separate awards from Asian Banking and Finance Awards, which is one of the top-ranking award organizations of the region, thanks to such issuance which not only provides the electricity distribution companies with funds for their investments, but also enables redemption of the lease certificates by making use of the state guaranteed cash flows of such investments. The recognition of our pioneering business manner and innovative approach in the field of investment banking as evidenced by such awards will be a substantial motivational factor for advancing our activities in the field of capital market instruments further."