ADIB lists world’s first USD-denominated Green Sukuk

ADIB lists world’s first USD-denominated Green Sukuk

Abu Dhabi – Abu Dhabi Islamic Bank (ADIB) listed the first USD-denominated green Sukuk in the world on Abu Dhabi Securities Exchange (ADX) on 8 December 2023 and was more than 5 times oversubscribed, according to a press release.

The Sukuk value stood at $500 million, with the issuance being driven by a wide demand across three regions as the final allocations were 78% to MENA, 13% to Europe, and 9% to both Asia and the US.

In terms of investor type, private banks acquired 26%, while 17% was for asset and fund managers, 42% for commercial banks, and 16% for other investing parties.

ADIB Group CEO, Nasser Al Awadhi, said: "The widespread interest from global investors in the Sukuk indicates their confidence in our sustainable finance framework, our financial performance and prudent financial and risk management approach. As a prominent bank in the Emirate, ADIB recognizes the importance of Abu Dhabi’s economic landscape.”

ADIB mandated Standard Chartered Bank as the sole global coordinator and sustainability structure. Meanwhile, the joint lead managers and bookrunners along with ADIB were Emirates NBD, First Abu Dhabi Bank (FAB), and Sharjah Islamic Bank.

Al Awadhi added: “By listing this Sukuk on ADX, we are opening the door for ESG-conscious