Abu Dhabi, UAE– Abu Dhabi Commercial Bank (ADCB) has said it successfully priced its inaugural green bond, which will be issued on 14 September 2022, raising $500 million to support the financing of low-carbon initiatives.
The five-year bond, priced at a spread of 115 basis points above treasuries with a 4.5 percent coupon rate, was 3.8 times oversubscribed after attracting local, regional, and international investors that placed total orders of over $1.9 billion.
The bank said it has embedded ESG into its corporate strategy and has aligned its sustainability approach to the UAE’s ambitions for an inclusive, net-zero economy.
Commitments include providing AED 35 billion in green finance by 2030, reaching net-zero in the Bank’s own operations and reducing financed emissions in line with UAE government net-zero ambitions.
The bank said it has adopted a Green Bond Framework to provide a long-term platform to support further mobilization of capital for green projects.
