Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has issued a five-year green bond worth HKD 750 million ($96.77 million) through a private placement.
This is the first Hong Kong dollars-dominated green bond issuance in the Middle East and North Africa (MENA) region, and the first to be issued by an offshore financial institution, according to a press release on Monday.
The head of group funding at FAB, Rula Al Qadi, said that the green finance supports sustainable business models, investments, and legislations, which is in line with the bank's strategy.
In 2017, the bank issued the first green bonds at a total value of $587 million in the MENA region, followed by a series of private placements in 2019.
