Abu Dhabi Future Energy Company (Mastar) announced the completion of the first issue of $750 million unsecured green bonds with a tenor of 10 years.
Subscriptions registered a record volume of 5.6 times the target value, while the final allotment of bonds came with a fixed yield of 4.875 at a ratio of 12.5% to investors in the Middle East and North Africa region and 87.5% to international investors. %, which equates to 115 basis points above the Treasury yield rate.
“Masdar” said that the “A2” rating and “A+” rating from Moody’s reflect investors’ confidence in the strength of Masdar’s fundamental financial indicators. Fitch” credit rating agency, as well as having great experience and capabilities in the field of sustainability.
The proceeds of these bonds will be invested in green projects including solar energy, wind energy, renewable energy transmission, energy distribution infrastructure and energy storage battery systems.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, who was appointed President of the Conference of the Parties (COP28), Chairman of Masdar’s Board of Directors, said: “Support in accordance with the directives of the Presidency to initiatives and projects that contribute to achieving sustainable development and in conjunction with the preparations of the United Arab Emirates to host the Conference of the Parties ( COP28), Masdar is launching pioneering strategic initiatives aimed at contributing to financing climate action efforts and reducing emissions.
He added, “We believe this successful issuance of Mastar’s Green Bonds will support the achievement of these two goals by disseminating clean energy solutions, promoting climate action and financing renewable energy projects in countries that need them most.”
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