Abu Dhabi Future Energy Company, Masdar, has announced the successful completion of its first green bond issuance for USD750 million 10-year senior unsecured notes.
The issuance saw an overwhelming response from both regional and international investors, with the order book surpassing USD4.2 billion, marking an oversubscription of 5.6 times. Aligned with Masdar’s Green Finance Framework, the net proceeds from this green bond and future offerings will be dedicated exclusively to funding “dark green” renewable energy projects, particularly in developing economies and climate-vulnerable nations with significant investment needs. This strategic focus will accelerate the transition to clean energy solutions while adhering to strict environmental, social, and governance (ESG) criteria to ensure project eligibility. This bond is the first part of a program to raise up to USD3 billion of bonds to meet Masdar’s equity funding commitments on new renewable energy projects at home and overseas, as it seeks to grow its global portfolio to 100GW capacity by 2030.