UAE-based energy company Masdar has raised USD1 billion through its second green bond issuance under its Green Finance Framework. The proceeds from the issuance will be deployed to fund Masdar’s equity commitments on new greenfield renewables projects, with several in developing economies, it was shared.
The issuance comprises dual tranches of US$500 million each, with tenors of five and 10 years and coupons of 4.875 per cent and 5.25 per cent, respectively.
According to Masdar, the order book peaked at US$4.6 billion, an oversubscription of 4.6 times.
Allocation was finalised with an average split of 70 per cent to international investors and 30 per cent to MENA investors.
This comes one year after the company’s first issuance of USD750 million on the International Securities Market of the London Stock Exchange.
The joint lead managers and bookrunners on the issuance were First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Citibank, HSBC, Standard Chartered, Credit Agricole CIB, Natixis and MUFG.