{"id":81143,"date":"2023-12-11T00:00:00","date_gmt":"2023-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/11\/adib-lists-first-usd-denominated-green-sukuk-on-adx\/"},"modified":"2023-12-11T00:00:00","modified_gmt":"2023-12-11T00:00:00","slug":"adib-lists-first-usd-denominated-green-sukuk-on-adx","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/11\/adib-lists-first-usd-denominated-green-sukuk-on-adx\/","title":{"rendered":"ADIB lists first USD-denominated green sukuk on ADX"},"content":{"rendered":"

ADIB <\/strong>USD-denominated green sukuk hits the ADX:<\/strong> Abu Dhabi Islamic Bank (ADIB) has listed its USD-denominated green sukuk \u2014 which debuted back in November<\/a> \u2014 on the Abu Dhabi Securities Exchange (ADX), according to a statement<\/a> released on Friday. <\/p>\n

About the debut sale:<\/strong> ADIB\u2019s USD-denominated green sukuk debut successfully raised USD 500 mn. The green sukuk issuance was 5.2x oversubscribed, closing at USD 2.6 bn. The oversubscription allowed the lender to tighten the final price to 115 bps over the five-year US Treasury Rate from the initial announced price<\/a> of 145 bps. ADIB intends to allocate the issuance's net proceeds to fund green projects to accelerate the green transition. <\/p>\n

Global demand:<\/strong> The lender saw strong demand globally, with the majority from MENA at 78% of final allocations. Some 13% of the allocations came from Europe and 9% from Asia and the US. Private banks accounted for 26% of the investors, followed by commercial banks (42%) and asset and fund managers (17%).<\/p>\n

Advisors: <\/strong>The Islamic lender tapped Standard Chartered Bank as sole global coordinator, along with Emirates NBD Capital, First Abu Dhabi Bank, and Sharjah Islamic Bank as joint bookrunners and joint lead managers, according to the document. ADIB itself will also jump in as a joint bookrunner and manager.<\/p>\n","protected":false},"excerpt":{"rendered":"

The green bond\u2019s debut sale raised USD 500 mn last month<\/p>\n","protected":false},"author":1,"featured_media":81144,"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":[54],"tags":[1954,51,53,11,164,153],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-adib","tag-adx","tag-capital-markets","tag-enterpriseclimate","tag-green-finance","tag-green-sukuk","wpautop","entry"],"acf":{"mongo_id":"efa559e5-6893-4b55-ad3c-057c6c09f407","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/609.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"ADIB lists first USD-denominated green sukuk on ADX","related_issue":[81129],"teaser":"The green bond\u2019s debut sale raised USD 500 mn last month","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.450155bc-9863-43f1-b3d6-8227efc7d5e5.mp3"},"yoast_head":"\nADIB lists first USD-denominated green sukuk on ADX - 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