Abu Dhabi Islamic Bank (ADIB) listed its five-year USD 500 mn green sukuk on the Abu Dhabi Securities Exchange on Friday, according to an ADX filing. ADIB intends to allocate the bond’s net proceeds to fund green projects to accelerate the green transition.

The details: ADIB raised USD 2.6 bn in its green sukuk sale, which was 5.2x oversubscribed, according to a statement by the bank last month. ADIB priced the five-year senior sukuk, rated A+ by Fitch, at an interest rate of 5.695%, to be paid semi-annually.

REMEMBER- The UAE holds 19% of the global sustainable sukuk market, with the value of its Environmental, Social and Governance (ESG) sukuk reaching USD 6.4 bn during the first nine months of the year, Skynews Arabia reports, citing Fitch Ratings.

Going green, even before COP: Green bond issuances in the Gulf raised USD 14.6 bn year-to-date by the beginning of the month, almost doubling the amount sold in the region last year, according to data compiled by Bloomberg.

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