Abu Dhabi Future Energy Company, or Masdar, has completed its first green bond issuance by raising USD 750 million (EUR 685m) on the London Stock Exchange, it was announced today.
The deal is the first step in a programme to raise up to USD 3 billion of bonds to meet Masdar’s equity commitments on new renewable energy projects globally as the company aims to reach 100 GW of capacity by 2030. The programme is intended to support solar and wind projects, renewable power transmission and distribution infrastructure, as well as battery storage assets.
The issuance saw strong demand from international and regional investors and was more than five times oversubscribed.
The bonds, priced at a coupon rate of 4.875% with maturity on 25 July 2033, are listed on the London Stock Exchange’s International Securities Market. A secondary listing is planned on Abu Dhabi Securities Exchange (ADX) later this year.
Masdar marked the issuance today by opening markets for trading at the London Stock Exchange. The event was attended by Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 president-designate and Masdar chairman.