Abu Dhabi Commercial Bank (ADCB) has successfully priced a $650 million green bond, with the funds allocated to finance eligible green assets as defined in ADCB’s Green Bond Framework. This marks ADCB’s second green bond issuance, following the success of its inaugural $500 million green bond in September 2022. The green bond received strong demand, being oversubscribed 2.9 times, reflecting market trust in ADCB’s creditworthiness and sustainability efforts.
The pricing of ADCB’s green bond, with a 5.50% coupon rate and 125 basis points spread above US treasuries, demonstrates the bank’s commitment to responsible financing and its contribution to the UAE’s Net Zero by 2050 Strategic Initiative. The issuance aligns with ADCB’s goal to provide Dh35 billion in green finance by 2030 and supports projects related to green buildings and renewable energy, contributing to CO2 emissions reduction. ADCB’s CEO, Ala’a Eraiqat, stated that this achievement reflects the market’s recognition of ADCB’s credit and ESG strength, emphasizing the bank’s commitment to a sustainable future.
