Commercial Bank of Dubai raises $500mln in inaugural green bond issuance

Commercial Bank of Dubai raises $500mln in inaugural green bond issuance

- Orders peak at $1.5 billion, showcasing strong market demand and confidence in CBD’s financial performance and ESG framework.

- CBD's green bond issuance follows its integration of ESG considerations into its corporate strategy, contributing to a more sustainable and inclusive society while supporting the UAE's sustainability ambitions.

Dubai:- Commercial Bank of Dubai (CBD) is pleased to announce the successful issuance of its inaugural green bond, raising USD $500 million and marking a significant milestone in the bank's commitment to sustainable finance during the UAE Year of Sustainability.

The five-year bond, with a coupon rate of 5.319%, was priced at 140 basis points over Treasuries. The issuance generated substantial interest from investors following a well-received global road show. The final order book delivered an impressive price tightening of 35 basis points from the initial price thoughts (IPTs), representing the strongest spread tightening this year for a MENA conventional FI issuance.

This remarkable demand showcases the confidence placed by local, regional, and international investors in CBD's strong and sustained financial performance and Environmental, Social, and Governance (ESG) approach, further emphasizing the growing importance of sustainable investment opportunities.

CBD has integrated ESG considerations into its corporate strategy, and will continue to actively support initiatives that promote environmental