Abu Dhabi: Abu Dhabi’s Masdar marked the successful completion of its first green bond issuance for $750 million in 10-year senior unsecured notes at the London Stock Exchange (LSE), on Monday.
Masdar completed the offering -- which was oversubscribed more than five times -- on July 19.
The market opening was attended by Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate and Chairman of Masdar, Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Mansoor Abulhoul, UAE Ambassador to the UK, and Masdar CEO Mohamed Jameel Al Ramahi.
The listing marks a historic moment for the UAE’s flagship renewable energy company since it was established in 2006 under its founding CEO and now chairman Dr Al Jaber.
Masdar has developed over 20GW of renewables capacity across more than 40 countries, has invested more than $30bn, and is targeting a 100GW portfolio by 2030. As the UAE looks ahead to hosting the UN climate change conference, COP28, with Dr Sultan as President-Designate, this milestone showcases the UAE’s and Masdar’s commitment to advancing decarbonisation and climate finance around the world.
This bond is the first part of a program to raise up to $3 billion to meet Masdar’s equity funding commitments on new renewable energy projects at home and overseas. Masdar also plans a secondary listing of its green bond offering later this year on Abu Dhabi Securities Exchange (ADX).
