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FAB issues second green bond in Swiss Francs (CHF) of 2021

  • CHF 200 million 5-year bond priced at 0.1475%
  • FAB only MENA issuer with CHF green bonds
  • UAE’s largest bank has also issued a 5-year USD 30 million green bond through a private placement on the same day
  • FAB the first GCC bank to join Net-Zero Banking Alliance; ESG rating upgraded to AA by MSCI in April 2021, placing FAB in the ‘Leader’ category

Abu Dhabi, 03 November 2021: First Abu Dhabi Bank (FAB) has priced its second Swiss Francs (CHF) denominated green bond of 2021, reinforcing the UAE’s largest bank’s commitment to sustainable finance. The CHF 200 million 5-year bond was priced at 0.1475% and attracted strong institutional investor demand.

This is FAB’s second CHF green bond issuance this year, following a CHF 260 million 5-year bond in January 2021. The bank today also announced the issuance of a 5-year USD 30 million green bond, bringing total green issuances to USD 1.36 billion overall across CHF, USD , CNH and HKD, and supporting the bank’s investor diversification strategy.

Rula AlQadi, Managing Director and Head of Group Funding at FAB, said: “At FAB, we remain the only bank from the MENA region to issue green bonds in the Swiss Francs market. In the backdrop of the COP26 climate summit, the issuance reflects a broader shift in demand for high-quality sustainable finance solutions. As a regional pioneer and leader of this financial instrument, FAB will continue to offer its sustainable finance expertise and solutions to help businesses and nations transition to net zero.”

FAB maintains a leading position in the regional sustainable finance sector. It was the first MENA bank to issue a green bond and has financed over USD 10 Billion in sustainable projects.

In line with the UAE’s vision to promote sustainable economic growth in the region, in October 2021, FAB became the first UAE and GCC bank to join the Net-Zero Banking Alliance (NZBA), launched in April by the United Nations Environment Programme Finance Initiative (UNEP FI) to bring together banking institutions across the globe who are committed to aligning their lending and investment portfolios with net-zero carbon emissions by 2050.

FAB’s focus on sustainability was recently recognised by MSCI with its ratings for the bank upgraded to AA from A, defining FAB as an “ESG Leader”.

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