Linklaters Advises IFC on Investment in Akbank’s Digitally Issued Gender Bond

"Linklaters advised the International Finance Corporation (IFC) on its US$100,000,000 investment in Akbank T.A.Ş.’s inaugural Digitally Native Note, the world’s first digitally issued gender bond. The bond was issued on Euroclear’s Digital Financial Market Infrastructure using distributed ledger technology with T+0 settlement. Proceeds will expand finance for women-owned SMEs and access to mortgages for women in Türkiye; Citi acted as dealer and issuing and paying agent."

Linklaters advised the International Finance Corporation (IFC) as investor in Akbank T.A.Ş.’s inaugural Digitally Native Note (DNN), the world’s first digitally issued gender bond. The transaction comprised a US$100,000,000 issuance on Euroclear’s Digital Financial Market Infrastructure (D-FMI) using distributed ledger technology. The DNN was issued and settled entirely on a digital platform and achieved T+0 settlement, meaning the bond was issued and settled on the same day. Proceeds of the bond will be used to expand access to finance for women-owned small and medium enterprises and to increase access to mortgage loans for women in Türkiye. Citi acted as dealer and as issuing and paying agent for the transaction. Linklaters has taken a leading role in the digitisation of financial markets and in the development of new digital platforms. The firm previously advised Euroclear on the design and launch of its D-FMI in October 2023 and has supported a number of issuances on that platform. Linklaters represented the International Finance Corporation (IFC) with a team composed by: partners Dr Alexander Schlee and Richard Hay (Capital Markets partner and UK Head of FinTech), managing associate Adjoa Abekah-Mensah, and counsel Wolfgang Ettengruber.

Linklaters Advises IFC on Investment in Akbank’s Digitally Issued Gender Bond

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