The bank said in a statement that it will use the bond proceeds to fund low-emission economic sectors that are in line with the bank’s policy under the green bond framework it launched to provide a long-term platform to support green projects.
Eligible initiatives for green loans include projects or companies working in renewable energy and green buildings, sustainable water and waste treatment, clean transportation and energy efficiency, and pollution prevention and control, according to a statement issued by the bank.
Proceeds from the sale of the bonds will be used to fund or refinance eligible green loans under the ADCB Green Bond Framework.
Barclays and ING were joint advisors on sustainability structuring, with ADCB, Bank of America Securities, JPMorgan, Mizuho and SMBCNicco joining them as joint managers and bookrunners.
