Sunday 19 May 2024

Mubadala gets solid investor response for first $750m green bond

ABU DHABI, October 29, 2023

Abu Dhabi-based investor Mubadala has issued its first-ever Green Bond for $750 million with a tenor of 10.5 years, at a yield of 6.03% and coupon at 5.875%. The issuance saw strong demand from the market.
The order books peaked at more than $6 billion with robust demand from local, European, Asian, and American accounts, said a statement from Mubadala.
Oversubscription peaked at 9.1 times with one of the most oversubscribed issuances during 2023.
The transaction further diversified Mubadala’s debt investors base by bringing in new investors, as a large proportion of demand came from new investors who had never invested in Mubadala’s bonds.
The receipts will be invested in categories aligned with the Green Financing Network.
This bond issuance highlights Mubadala’s commitment to responsible investing ahead of COP28 later this year.
Chief Financial Officer Carlos Obeid said: "Responsible Investing has been at the core of Mubadala’s operating model since we were established, and remains central to our investment approach today. Mubadala partners with governments, businesses, investment peers and industry leaders around the world to help find solutions to global challenges."
"The depth, diversity, and strength of the orderbook for our first Green Bond further validate our ability to tap debt markets across economic cycles and in various economic conditions," he added.-TradeArabia News Service


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