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FAB prices first Green Bond deal in Swiss Francs
First Abu Dhabi Bank (FAB) has priced the largest ever Swiss Francs denominated Green Bond by an international issuer and the first Green bond deal by a Mena issuer in Swiss Francs (CHF).
The CHF 260 million 6-year bond was priced at 0.068 per cent, which is inside FAB’s outstanding CHF curve and on a USD basis swaps to a level well inside FAB’s current USD curve too. This is FAB’s fifth Green Bond issuance after having issued previously in USD and HKD. This issuance also reiterates FAB’s commitment to Green and sustainable finance having now issued more Green bonds than any other financial issuer in Mena.
Rula AlQadi, managing director and head of Group Funding, said: “We are very happy with the results of this landmark deal in the Swiss Franc market. Not only was the issuance a success in terms of size and pricing objectives achieved, but this was targeted to green investors who made up more than 60 per cent of the books thereby diversifying our funding base further. FAB is committed to green and sustainable finance, having now issued Green Bonds in three different currencies, and will continue to issue in this format opportunistically.”
business@khaleejtimes.com
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