{"id":78581,"date":"2023-07-24T01:00:45","date_gmt":"2023-07-24T01:00:45","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/07\/24\/first-abu-dhabi-bank-issues-inaugural-aed-1-3-bn-green-sukuk-issuance\/"},"modified":"2023-07-24T01:00:45","modified_gmt":"2023-07-24T01:00:45","slug":"first-abu-dhabi-bank-issues-inaugural-aed-1-3-bn-green-sukuk-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/07\/24\/first-abu-dhabi-bank-issues-inaugural-aed-1-3-bn-green-sukuk-issuance\/","title":{"rendered":"First Abu Dhabi Bank issues inaugural AED 1.3 bn green sukuk issuance"},"content":{"rendered":"

<\/a> FAB pulls the trigger on inaugural green sukuk issuance:<\/strong> The UAE\u2019s largest bank First Abu Dhabi Bank (FAB) issued a three-year AED 1.3 bn (c. USD 350 mn) shariah-compliant green sukuk, according to a statement<\/a> released on Thursday.<\/p>\n

The details: <\/strong>The green sukuk was priced at 4.93% on Wednesday \u2014 the lowest price offering in the AED market for the bank to date, the statement notes. The issuance marks a first for the bank both in terms of green sukuk and AED-denominated issuances, it adds. FAB acted as joint lead manager and green structuring agent on the issuance, the statement notes.<\/p>\n

FAB is a major player in the GCC\u2019s green bond scene:<\/strong> Hailed as a leader in regional green<\/a>financing<\/a>, the bank issued a USD 600 mn five-year green bond last June<\/a>, upsized from an initial target of USD 500 mn on the back of a 2.8x oversubscribed orderbook. FAB acted as one of the lead managers for Majid Al Futtaim\u2019s most recent green sukuk issuance \u2014 which saw the UAE retailer raise USD 500 mn<\/a> \u2014 and also acted as an advisor on Abu Dhabi National Energy Company\u2019s shariah-compliant USD 1.5 bn dual-tranche green bond issuance<\/a> and Dubai Islamic Bank\u2019s second green sukuk issuance, which saw it raise USD 1 bn<\/a>. The bank also served as an advisor on Saudi Electricity Company\u2019s USD 2 bn<\/a> green bond last April. In 2022, the bank raised USD 1.49 bn<\/a> through three green bond issuances.<\/p>\n

REMEMBER\u2013 Interest in green and sustainable finance issuance has been on the rise in <\/strong>the region in recent months ahead of COP28<\/strong> in the UAE.<\/strong> BNP Paribas said earlier this year that it forecasts the global climate-friendly bond sales to climb up to c. USD 600 bn<\/a>, outstripping 2021\u2019s all-time high. The MENA region reported a 532% y-o-y rise in green and sustainable finance to USD 24.55 bn in 2021, up from USD 3.8 bn a year earlier, according to a report<\/a> by consultancy Arthur D Little.<\/p>\n","protected":false},"excerpt":{"rendered":"

FAB pulls the trigger on inaugural green sukuk issuance: The UAE\u2019s largest bank First Abu Dhabi Bank (FAB) issued a three-year AED 1.3 bn (c. USD 350 mn) shariah-compliant green sukuk, according to a statement released on Thursday. The details: The green sukuk was priced at 4.93% on Wednesday \u2014 the lowest price offering in […]<\/p>\n","protected":false},"author":1,"featured_media":78582,"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":[83,11,472,49,153,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-first-abu-dhabi-bank","tag-green-bonds","tag-green-sukuk","tag-uae","wpautop","entry"],"acf":{"mongo_id":"918e5736-a790-46d3-a9c7-88f84ac92af2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/711.jpg","photo_position":"above","related_issue":[78569],"teaser":"","voice_url":""},"yoast_head":"\nFirst Abu Dhabi Bank issues inaugural AED 1.3 bn green sukuk 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\/07\/24\/first-abu-dhabi-bank-issues-inaugural-aed-1-3-bn-green-sukuk-issuance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Abu Dhabi Bank issues inaugural AED 1.3 bn green sukuk issuance\" \/>\n<meta property=\"og:description\" content=\"FAB pulls the trigger on inaugural green sukuk issuance: The UAE\u2019s largest bank First Abu Dhabi Bank (FAB) issued a three-year AED 1.3 bn (c. 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