DUBAI, July 19 (Xinhua) — The United Arab Emirates (UAE)’s renewable energy producer Masdar announced on Wednesday the completion of a $750 million green bond issuance, according to official news agency WAM.
The 10-year green bond received orders worth $4.2 billion, with strong demand from both regional and international investors, WAM reported.
The funds raised through this bond and future offerings will be exclusively invested in new renewable energy projects, particularly in developing economies and climate-vulnerable nations needing crucial investment.
Moody’s assigned a rating of A2 to the bond, while Fitch assigned a rating of A+, matching the company’s corporate credit ratings.
Established in 2006, Masdar is a prominent player in the UAE’s renewable energy sector. It operates in over 40 countries, investing in renewable energy projects with a total capacity of approximately 20 gigawatts, as reported by WAM.
Credit: The Star : News Feed
