FAB issues MENA’s first Chinese Yuan green bond
Abu Dhabi, UAE; 7 June 2021: First Abu Dhabi Bank (FAB), the UAE's largest bank and one of the world's largest and safest financial institutions, has issued today the first Chinese Yuan (CNH) green bond from the MENA region, worth CNH 150mn through a green bond private placement. This is the first CNH green private placement from a CEEMEA FI and the first from the MENA region.
This deal is testament to FAB’s focus on ESG funding and reaffirms the bank’s regional leadership in green and sustainability linked funding. FAB has issued over USD 1bn in green bonds in various currencies (USD, CHF, CNH, HKD) – which is more than any other MENA FI issuer.
Rula Al Qadi, Managing Director & Head of Group Funding, said: “As a regional leader in ESG and following the recent upgrade in our rating from A to AA by MSCI, our focus is on more funding that meets this criteria. We are delighted to have added another currency to our mix of green funding and we hope this will lead other issuers to follow suit in what is increasingly an important market.”