PHOTO
Abu Dhabi’s clean-energy firm Masdar raised $1 billion through its second green bond issuance, comprising dual tranches of $500 million each, with tenors of five and 10 years and coupons of 4.875% and 5.25% respectively.
The renewable-power company said the orderbook peaked at $4.6 billion, an oversubscription of 4.6x.
Allocation was split at 70% to international investors and 30% to MENA investors.
The proceeds from the issuance will be deployed to fund Masdar’s equity commitments on new greenfield projects, several in developing economies, as the company targets portfolio capacity of 100GW by 2030.
Under its Green Finance Framework Masdar currently plans to raise up to $3 billion in green bonds.
This is the second issuance of its kind. Masdar made its debut sale of $750 million of green bonds in 2023 on the London Stock Exchange.
Abu Dhabi government-owned company energy company TAQA owns 43% of Masdar, Mubadala has 33% and state energy major ADNOC has 24%.
(Writing by Brinda Darasha; editing by Seban Scaria)
