DFM-listed Tabreed inked an USD 163 (AED 600 mn) green revolving credit facility with Abu Dhabi Commercial Bank (ADCB) and Emirates NBD, according to a DFM disclosure (pdf) by the company. First Abu Dhabi Bank (FAB) acted as the green coordinator.

Where the money’s going: The cooling solution company will use the funds from the five-year credit facility to finance its GCC green expansion plans, the company said. The proceeds will also go towards supporting the company’s energy, water efficiency, and wastewater management projects.

Tabreed’s Green Finance Framework: The company launched its Green Finance Framework(pdf) in 2022 to attract green equity investors to invest in green projects. Under the framework, Tabreed issues “green bonds and loans, with the resulting net proceeds to be used for financing eligible green projects, which include its core business of constructing, acquiring and operating district cooling schemes,” the company says.

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