PHOTO
DUBAI - Abu Dhabi Commercial Bank , the United Arab Emirates' third biggest lender, has hired a group of banks for a sale of U.S. dollar-denominated debut green bonds, a document showed.
The bond sale could snap a weeks-long stretch with no issuance from the region.
Barclays and ING were hired as joint sustainability structuring advisors, the investors' note showed. Abu Dhabi Commercial Bank, BofA Securities, JPMorgan , Mizuho and SMBC Nikko join them as joint lead managers and book runners.
The banks will arrange a series of investor meetings starting on Monday. An issuance of five-year senior unsecured green bonds of benchmark size will follow, subject to market conditions. Benchmark usually means at least $500 million.
Proceeds from the planned debt sale will finance or refinance green loans eligible under ADBC's green bond framework.
(Reporting by Yousef Saba; editing by David Evans)