Masdar completes $750m green bond issuance

This is the renewable company’s first green bond issuance.

Masdar has completed its $750m 10-year senior unsecured notes green bond issuance, the first green bond it issued, which will be used for its new clean energy projects under its Green Finance Framework.

In a statement, Masdar said the debut green bond was 5.6 times oversubscribed with order book from regional and international investors peaking at $4.2b.

“In line with Masdar’s Green Finance Framework, net proceeds from this bond and future offerings will be used to invest exclusively in ‘dark green’ renewable energy projects, many of which will be in developing economies and climate-vulnerable countries that have a critical need for investment,” the statement read.

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The issuance was led and offered through joint lead managers and book runners composed of BNP Paribas, Citi, First Abu Dhabi Bank, HSBC, SMBC Nikko, Société Générale and Standard Chartered.

This is the first part of the programme to raise up to $3b bonds for Masdar’s equity funding commitments on renewable energy projects. The company plans to increase its portfolio to 100 gigawatts by 2030.