Reset/lost password email has no link

On our site whenever anyone tries to change or find out their password the email that is sent to them contains just the standard message without the required link:
“Someone requested that the password be reset for the following account: http://mysite.com/ Username: user If this was a mistake, just ignore this email and nothing will happen. To reset your password, visit the following address: “
There is no link/address there and I cannot figure out why.
All plugins have been disabled except for wpMandrill and the theme is changed to 2015.