{"id":77733,"date":"2023-05-31T01:03:03","date_gmt":"2023-05-31T01:03:03","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/05\/31\/the-uaes-first-abu-dhabi-bank-is-lining-up-a-usd-600-mn-green-bond-issuance\/"},"modified":"2023-05-31T01:03:03","modified_gmt":"2023-05-31T01:03:03","slug":"the-uaes-first-abu-dhabi-bank-is-lining-up-a-usd-600-mn-green-bond-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/05\/31\/the-uaes-first-abu-dhabi-bank-is-lining-up-a-usd-600-mn-green-bond-issuance\/","title":{"rendered":"The UAE\u2019s First Abu Dhabi Bank is lining up a USD 600 mn green bond issuance"},"content":{"rendered":"

<\/a> First Abu Dhabi Bank (FAB) is reportedly set to raise c.USD 600 mn from a <\/strong>fresh five-year green bond issuance<\/strong>, Reuters<\/a> reports, citing a bank document it has seen. FAB sold the bonds at 95 basis points (bps) above US Treasuries after tightening 25 bps from initial guidance in the wake of high demand in excess of USD 1.4 bn, the newswire notes. Proceeds from the green bond would be channeled toward environmental projects in line with FAB\u2019s Sustainable Finance Framework<\/a>.<\/p>\n

Advisors: <\/strong>FAB will act as the debt instrument\u2019s green structuring agent, while New York-headquartered investment banking firm Citi Credit Agricole, HSBC and Standard Chartered will serve as bookrunners and lead managers for the issuance, according to Reuters.<\/p>\n

First Abu Dhabi Bank is a major player in the GCC\u2019s green bond scene: <\/strong>The bank raised USD 1.49 bn<\/a> through three green bond issuances in 2022 alone. Most recently, FAB acted as one of the lead managers for Majid Al Futtaim\u2019s most recent green sukuk issuance, which saw the UAE retailer raise USD 500 mn<\/a> earlier this week. The bank also acted as an advisor on Abu Dhabi National Energy Company\u2019s shariah-compliant USD 1.5 bn<\/a> dual-tranche green bond issuance, and Dubai Islamic Bank\u2019s second green sukuk issuance, which saw it raise USD 1 bn<\/a>, and was also an advisor on Saudi Electricity Company\u2019s USD 2 bn<\/a> green bond.<\/p>\n","protected":false},"excerpt":{"rendered":"

First Abu Dhabi Bank (FAB) is reportedly set to raise c.USD 600 mn from a fresh five-year green bond issuance, Reuters reports, citing a bank document it has seen. FAB sold the bonds at 95 basis points (bps) above US Treasuries after tightening 25 bps from initial guidance in the wake of high demand in […]<\/p>\n","protected":false},"author":1,"featured_media":77734,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,11,164,88,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-green-finance","tag-renewables","tag-uae","wpautop","entry"],"acf":{"mongo_id":"857a1a0a-a742-411e-ad5a-97ae55be7560","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/711.jpg","photo_position":"above","related_issue":[77726],"teaser":"","voice_url":""},"yoast_head":"\nThe UAE\u2019s First Abu Dhabi Bank is lining up a USD 600 mn green bond issuance - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/31\/the-uaes-first-abu-dhabi-bank-is-lining-up-a-usd-600-mn-green-bond-issuance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The UAE\u2019s First Abu Dhabi Bank is lining up a USD 600 mn green bond issuance\" \/>\n<meta property=\"og:description\" content=\"First Abu Dhabi Bank (FAB) is reportedly set to raise c.USD 600 mn from a fresh five-year green bond issuance, Reuters reports, citing a bank document it has seen. 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