Masdar set to raise big from debut green bonds sale: The UAE’s state-owned renewables developer Masdar is expected to raise USD 750 mn after its debut green bond issuance lured in over USD 4.2 bn in demand, Reuters reports, citing a bank document it has seen. The bonds — which are 5.6x oversubscribed — were priced at 115 basis points over US Treasuries from an initial guidance of around 150 bps over the same benchmark, the document showed.

Advisors: An earlier document showed that Citi and First Abu Dhabi Bank were hired as joint global coordinators, while BNP Paribas, HSBC, SMBC Nikko, Societe Generale and Standard Chartered have been tapped as joint lead managers and joint bookrunners. They have been asked to start holding investor calls earlier this week ahead of the sale.

We were expecting this: The planned debut issuance comes nearly a month after Masdar’s CEO Mohamed Al Ramahi told Bloomberg that Masdar is looking to issue a USD 500-700 mn maiden green bond.

REMEMBER- The issuance, which comes among other offerings, have restarted debt sales in the region after a month-long hiatus that followed the Commercial Bank of Dubai’s inaugural green bond issuance last month.

Tags: