DUBAI: The United Arab Emirates (UAE)’s clean-energy producer Masdar announced on Wednesday the completion of a US$750 million green bond issuance, reported Xinhua quoting an official news agency WAM report.
The orderbook of the 10-year green bond peaked at US$4.2 billion supported by heavy demand from regional and international investors, WAM said.
The net proceeds from this bond and future offerings will be used to invest exclusively in new clean energy projects, many of which will be in developing economies and climate-vulnerable countries that have a critical need for investment.
The bond was rated A2 by Moody’s and A+ by Fitch, in line with the corporate credit ratings of the company.
Established in 2006, Masdar is the UAE’s clean energy powerhouse. It is active in more than 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of around 20 gigawatts, according to WAM. – BERNAMA-XINHUA
