UAE’s biggest bank prices $218m green bond as it embraces sustainable finance

UAE’s biggest bank prices $218m green bond as it embraces sustainable finance

First Abu Dhabi Bank (FAB), the UAE's largest lender, has priced its second Swiss Francs (CHF) denominated green bond of 2021, reinforcing its commitment to sustainable finance.

The CHF200 million ($218 million) 5-year bond was priced at 0.1475 percent and attracted strong institutional investor demand, the bank said in a statement.

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This is FAB’s second CHF green bond issuance this year, following a CHF260 million 5-year bond in January.

The bank also announced the issuance of a 5-year $30 million green bond, bringing total green issuances to $1.36 billion overall across multiple currencies.

Rula AlQadi, managing director and head of group funding at FAB, said: “At FAB, we remain the only bank from the MENA region to issue green bonds in the Swiss Francs market. In the backdrop of the COP26 climate summit, the issuance reflects a broader shift in demand for high-quality sustainable finance solutions.

"As a regional pioneer and leader of this financial instrument, FAB will continue to offer its sustainable finance expertise and solutions to help businesses and nations transition to net zero.”

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