First Abu Dhabi Bank
First Abu Dhabi is raising some mega green issues, the latest being one issued in Hong Kong dollars. Image Credit: Gulf News Archive

Dubai: First Abu Dhabi Bank has issued a 750 million Hong Kong dollar five-year “Green Bond” through a private placement. This is the first green bond offer by a Middle East based entity denominated in Hong Kong dollars.

In fact, it is also the first green bond issued in Hong Kong dollars by an offshore financial institution.

“Green finance promotes and supports sustainable business models, investments and policies, something that very much adheres to the FAB ethos,” said Rula AlQadi, Head of Group Funding, FAB. “FAB has a clear trackrecord when it comes to green finance."

FAB made its debut green bond issue in 2017, with a $587 million offer. And followed that up with a series of private placements last year. The Abu Dhabi bank also has a “Green Bond Framework”.

It was also the bookrunner for the region’s first-ever green sukuk and first green revolving credit facility. In addition, FAB arranged an SDG-linked loan for Etihad Airways last year - the first such in global aviation and also the first in the MENA region.