2023-07-18 12:53:45
The UAE renewable energy company, Masdar, intends to sell $750 million in green bonds for a period of 10 years, Archyde.com reported on Tuesday, according to a bank document seen by it.
Green bonds have seen momentum recently as the UAE seeks to become a global hub for sustainability as it prepares to host the COP 28 climate summit this year.
The agency reported that the indicative price for “Masdar” bonds is regarding 125 basis points above US bonds.
On Monday, the company appointed local and international banks to arrange the offering, namely “Citibank” and “First Abu Dhabi Bank” as joint global coordinators, while “BNP Paribas”, “HSBC” and “S. MBC Nikko, Societe Generale and Standard Chartered managed the offering, according to the agency.
(Prepared by: Jihan Laghmari, for contact: [email protected])
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