Adnoc draws c. USD 1 bn in green financing from Japanese-led lenders under a USD 3 bn credit line

Adnoc has secured c. USD 1 bn in green financing from a group of Japanese-led lenders headed by Japan Bank for International Cooperation (JBIC), the company said on X on the sidelines of Adipec. The money is drawn from a USD 3 bn credit line Adnoc signed in 2024, of which it had already used USD 103 mn last year, IFR reports. That leaves c. USD 1.9 bn still undrawn, by our math. The funds will go toward cutting carbon emissions from LNG production and toward projects linked to solar and nuclear power generation.

The structure: The first USD 905 mn loan was made up of USD 543 mn from Japan Bank for International Cooperation (JBIC), while Mizuho Bank, MUFG, and HSBC Tokyo provided the remaining financing. A second financing package included USD 58 mn from JIBC and USD 39 from HSBC and Mizuho.

IN CONTEXT- Adnoc isn’t the only Gulf borrower turning to Asian lenders. Dubai Aerospace Enterprise and QatarEnergy have also gone to Asian banks for financing in recent months, attracted by larger loan sizes, competitive pricing, and longer repayment periods.