EU's von der Leyen calls helium balloons over Lithuania 'a hybrid threat'
European Commission President Ursula von der Leyen on Monday voiced strong support for Lithuania, condemning the repeated incursions of helium-filled ...
Abu Dhabi Future Energy Company PJSC – Masdar has announced the issuance of a new $1 billion green bonds, bringing its cumulative green bond portfolio to $2.75 billion and reinforcing its global leadership in sustainable finance.
"This third issuance demonstrates the continued and growing confidence the investment community places in Masdar’s financial strength and long-term vision. The funds raised will enable us to support energy transformation across the globe, especially in emerging markets and developing economies, which are often in most urgent need of investment. All proceeds from our bond program are allocated exclusively to the development of new "dark green" renewable energy projects, giving investors complete confidence as to how their money is being spent," - said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.
The bond was issued in two equal tranches of US$500 million, with tenors of 5 and 10 years and coupon rates of 4.875% and 5.375%, respectively. It attracted strong investor interest, with a peak orderbook reaching US$6.6 billion, reflecting significant oversubscription, said the company in its statement.
Demand came from both regional and international investors, including dedicated green funds. Spreads over U.S. Treasuries were 80 basis points for the 5-year tranche and 90 basis points for the 10-year—marking the tightest pricing Masdar has achieved to date. Final allocation was split 85% to international investors and 15% to those from the MENA region, the statement reads.
Mazin Khan, Chief Financial Officer of Masdar, stated that the latest green bond issuance—aligned with Masdar’s Green Finance Framework—“underscores the strong investor confidence in our financial resilience and strategic direction.” He added that the proceeds will support the development of new clean energy projects both domestically and internationally, offering investors a meaningful opportunity to contribute to the global green financing agenda.
Masdar updated its Green Finance Framework in March this year, with the eligibility criteria expanded to include green hydrogen and standalone battery storage projects. Moody’s reaffirmed its Sustainability Quality Score of SQS1 (Excellent), the highest possible rating, for the updated framework in April.
In line with Masdar’s corporate credit ratings, the company’s third bond issuance was rated AA- by Fitch and A1 by Moody’s. The joint lead managers and bookrunners on the issuance were First Abu Dhabi Bank, Abu Dhabi Commercial Bank, J.P. Morgan, ING, Intesa Sanpaolo, Bank of China, DBS Bank, BNP Paribas and Crédit Agricole.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
As Hurricane Melissa barrels towards Jamaica as a powerful Category 4 storm, questions often arise about how these tempests get their names.
The U.N. weather agency plans to cut some posts and is reviewing its priorities as dozens of countries, including the United States, are late with their fees, a spokesperson said on Friday.
A general strike and mass demonstrations paralysed the southern Tunisian city of Gabes on Tuesday, as tens of thousands of people demanded the closure of a state-run chemical plant blamed for a worsening pollution crisis.
Global investors managing more than $3 trillion in assets have urged governments to halt and reverse deforestation and ecosystem destruction by 2030, according to a joint statement released on Monday ahead of next month’s U.N. climate conference in Brazil.
A team of Argentine paleontologists has uncovered one of the oldest known dinosaurs, a nearly complete skeleton of a long-necked herbivore that roamed Earth 230 million years ago in what is now La Rioja province.
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