Latest news with #MohamedJameelAlRamahi
Trade Arabia
18-05-2025
- Business
- Trade Arabia
Masdar raises $1bn through green bond issuance
Masdar has issued another $1 billion green bond, bringing the total outstanding under its green bond program to $2.75 billion, and reinforcing the company's global leadership position in sustainable finance. The bond was issued in two equal tranches of $500 million, with tenors of 5 and 10 years and coupons of 4.875% and 5.375% respectively. The bond attracted significant oversubscription with a peak orderbook of $6.6 billion, with strong demand from both regional and international investors, including dedicated green funds. Spreads over US Treasuries landed at 80bps for the 5-year tranch and 90bps for the 10-year, representing the tightest pricing achieved on Masdar's issuances to date. Allocation was finalised with a split of 85 per cent to international investors and 15 per cent to MENA investors. Masdar is widely recognised as a global leader in sustainable finance, with successive green bonds of $750 million and $1 billion in 2023 and 2024, which have been fully allocated to new greenfield projects in developed and developing economies. The company's green bond program is complemented by its other financing activities, which in 2024 included the issuance of $6 billion of non-recourse financing for the development of more than 11 gigawatts (GW) of clean energy capacity across 12 new projects in nine countries. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:' 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 be critical in Masdar achieving its portfolio capacity targets and 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.' Mazin Khan, Chief Financial Officer of Masdar, said:' This latest green bond issuance, aligned with Masdar's Green Finance Framework, underscores the overwhelming investor confidence in our financial resilience and strategic direction. As we look to deliver the equitable energy system of tomorrow, Masdar is raising sustainable finance on an industrial scale to support the development of new clean energy projects, both at home and internationally, giving investors the opportunity to play their part in the 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.
Gulf Today
16-05-2025
- Business
- Gulf Today
Masdar raises another $1 billion through green bond issuance
Abu Dhabi Future Energy Company Masdar on Friday announced it has issued another $1 billion green bond, bringing the total outstanding under its green bond programme to $2.75 billion, and reinforcing the company's global leadership position in sustainable finance. The bond was issued in two equal tranches of $500 million, with tenors of 5 and 10 years and coupons of 4.875% and 5.375% respectively. The bond attracted significant oversubscription with a peak orderbook of $6.6 billion, with strong demand from both regional and international investors, including dedicated green funds. Spreads over US Treasuries landed at 80bps for the 5-year tranch and 90bps for the 10-year, representing the tightest pricing achieved on Masdar's issuances to date. Allocation was finalised with a split of 85 per cent to international investors and 15 per cent to Mena investors. Masdar is widely recognised as a global leader in sustainable finance, with successive green bonds of $750 million and $1 billion in 2023 and 2024, which have been fully allocated to new greenfield projects in developed and developing economies. The company's green bond programme is complemented by its other financing activities, which in 2024 included the issuance of $6 billion of non-recourse financing for the development of more than 11 gigawatts (GW) of clean energy capacity across 12 new projects in nine countries. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, '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 be critical in Masdar achieving its portfolio capacity targets and 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 programme 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.' Mazin Khan, Chief Financial Officer of Masdar, said, 'This latest green bond issuance, aligned with Masdar's Green Finance Framework, underscores the overwhelming investor confidence in our financial resilience and strategic direction. As we look to deliver the equitable energy system of tomorrow, Masdar is raising sustainable finance on an industrial scale to support the development of new clean energy projects, both at home and internationally, giving investors the opportunity to play their part in the 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. The strategic energy partnership between the UAE and the US continues to reinforce both countries' shared vision for a sustainable future. This collaboration is marked by significant joint investments in clean and renewable energy technologies, aimed at bolstering global energy security and supporting emerging economies. Meanwhile, a key initiative is the UAE-US Partnership for Accelerating Clean Energy (PACE), launched in November 2022, which seeks to mobilise US$100 billion in financing and investment to deploy 100GW of clean energy by 2035. As part of this effort, the two countries announced in January 2023 a $20 billion allocation to develop 15GW of clean energy projects in the United States by 2035. The initiative is being led by Masdar in partnership with private-sector investors from the United States. Abu Dhabi National Oil Company (ADNOC) also joined the clean energy push by acquiring a 35 per cent equity stake in ExxonMobil's blue hydrogen project in Texas, which will be capable of producing up to 1 billion cubic feet daily of blue hydrogen, with about 98 per cent of carbon dioxide removed, and more than 1 million tonnes of low-carbon ammonia per year. In support of innovation, the Abu Dhabi Department of Energy signed agreements with the University of Arizona and the International Renewable Energy Agency (IRENA) to explore advanced clean energy technologies, including solar power in space and climate acceleration tools. The United States remains a core market for Masdar, which is targeting a clean energy portfolio of 25GW in the United States within a decade. Masdar's portfolio in the US comprises wind, solar and battery storage projects in California, Texas, New York, and New Mexico, reflecting the company's long-term commitment to transforming energy systems. The bond attracted significant oversubscription with a peak order book of $6.6 billion, with strong demand from both regional and international investors
Arabian Business
16-05-2025
- Business
- Arabian Business
Masdar announces $1bn green bond
Abu Dhabi Future Energy Company, Masdar, has announced it has issued another $1bn green bond, bringing the total outstanding under its green bond programme to $2.75bn, and reinforcing the company's global leadership position in sustainable finance. The bond was issued in two equal tranches of $500m, with tenors of five and 10 years and coupons of 4.875 per cent and 5.375 per cent respectively. The bond attracted significant oversubscription with a peak orderbook of $6.6bn, with strong demand from both regional and international investors, including dedicated green funds. Masdar green bond Spreads over US Treasuries landed at 80bps for the 5-year tranche and 90bps for the 10-year, representing the tightest pricing achieved on Masdar's issuances to date. Allocation was finalised with a split of 85 per cent to international investors and 15 per cent to MENA investors. Masdar is widely recognised as a global leader in sustainable finance, with successive green bonds of $750m and $1bn in 2023 and 2024, which have been fully allocated to new greenfield projects in developed and developing economies. The company's green bond programme is complemented by its other financing activities, which in 2024 included the issuance of $6bn of non-recourse financing for the development of more than 11 gigawatts (GW) of clean energy capacity across 12 new projects in nine countries. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: '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 be critical in Masdar achieving its portfolio capacity targets and 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 programme 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.' Mazin Khan, Chief Financial Officer of Masdar, said: 'This latest green bond issuance, aligned with Masdar's Green Finance Framework, underscores the overwhelming investor confidence in our financial resilience and strategic direction. 'As we look to deliver the equitable energy system of tomorrow, Masdar is raising sustainable finance on an industrial scale to support the development of new clean energy projects, both at home and internationally, giving investors the opportunity to play their part in the 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 JP Morgan ING Intesa Sanpaolo Bank of China DBS Bank BNP Paribas Crédit Agricole
Arabian Post
16-05-2025
- Business
- Arabian Post
Masdar Secures $1 Billion to Advance Global Renewable Projects
Abu Dhabi Future Energy Company PJSC – Masdar has successfully raised $1 billion through its latest green bond issuance, marking a significant step in its commitment to expanding renewable energy initiatives globally. The issuance, structured in two equal tranches of $500 million with maturities of five and ten years, attracted substantial investor interest, culminating in an order book that peaked at $4.6 billion, reflecting an oversubscription rate of 4.6 times. The bond's allocation saw a distribution of 70% to international investors and 30% to those in the Middle East and North Africa region. The five-year tranche was priced with a coupon of 4.875%, while the ten-year tranche carried a coupon of 5.25%. These rates underscore Masdar's strong credit standing, with the company's green finance framework receiving the highest possible rating of SQS-1 from Moody's. Proceeds from this issuance are earmarked for investment in new greenfield renewable energy projects, particularly in developing economies. This aligns with Masdar's strategic objective to achieve a renewable energy portfolio capacity of 100 gigawatts by 2030. The company has been instrumental in advancing clean energy solutions, with projects spanning over 40 countries. Masdar's Chief Executive Officer, Mohamed Jameel Al Ramahi, emphasized the significance of this financial milestone, stating that the successful bond issuance underscores investor confidence in Masdar's financial robustness and sustainability credentials. He highlighted that the funds will be pivotal in advancing the company's ambitious portfolio of renewable energy projects, further cementing its role in supporting an equitable energy transition by increasing energy access in emerging markets and the Global South. See also Dubai to Convene Global Leaders for Green Economy Talks Chief Financial Officer Mazin Khan reiterated the company's commitment to transparency and impact, noting that Masdar is raising green bonds and other green finance instruments to invest in new dark green projects. He emphasized that this approach is not only a key component of Masdar's investor relations strategy but also a commitment that the company is transparently fulfilling through the publication of audited annual allocation and impact reporting. This bond issuance follows Masdar's inaugural green bond offering in 2023, which raised $750 million and was oversubscribed by 5.6 times. The proceeds from the initial bond have been allocated to projects expected to mitigate 5.4 million tonnes of greenhouse gas emissions annually upon full operation. Masdar's ongoing efforts in green finance are part of a broader strategy to mobilize up to $3 billion through green bonds to support its renewable energy expansion goals. The company's initiatives are in line with global efforts to accelerate the transition to sustainable energy sources and address climate change challenges. ____________________________________
Gulf Business
16-05-2025
- Business
- Gulf Business
Masdar issues $1bn green bond, brings total programme to $2.75bn
Image: Masdar/ For illustrative purposes Abu Dhabi Future Energy Company – Masdar – has issued a new $1bngreen bond, boosting its total outstanding under the green bond programme to $2.75bn. The latest issuance was structured in two equal tranches of $500m, with tenors of five and 10 years and respective coupon rates of 4.875 per cent and 5.375 per cent. The offering drew robust investor interest, with a peak orderbook of $6.6bn, significantly oversubscribed by both regional and international investors, including dedicated green funds. Spreads over US Treasuries were finalised at 80 basis points for the 5-year tranche and 90 basis points for the 10-year, marking the tightest pricing the company has achieved to date. Allocation was split 85 per cent to international investors and 15 per cent to investors in the MENA region. Third issuance to fund portfolio capacity targets, says Masdar CEO 'This third issuance demonstrates the continued and growing confidence the investment community places in Masdar's financial strength and long-term vision,' said Mohamed Jameel Al Ramahi, CEO of Masdar. 'The funds raised will be critical in Masdar achieving its portfolio capacity targets and will enable us to support energy transformation across the globe, especially in emerging markets and developing economies… giving investors complete confidence as to how their money is being spent.' The company previously issued green bonds of $750m and $1bn in 2023 and 2024 respectively. All proceeds from its green bond programme are allocated exclusively to new 'dark green' renewable energy projects in both developed and developing economies. Read: In 2024, 'This latest green bond issuance, aligned with our Green Finance Framework, underscores the overwhelming investor confidence in our financial resilience and strategic direction,' said Mazin Khan, CFO of Masdar. 'Masdar is raising sustainable finance on an industrial scale… giving investors the opportunity to play their part in the green financing agenda.' Green Finance Framework update in 2024 The clean energy giant updated its Green Finance Framework in March 2024, expanding eligible categories to include green hydrogen and standalone battery storage projects. In April, Moody's reaffirmed the framework's top-tier Sustainability Quality Score of SQS1 (Excellent). The bond was rated AA- by Fitch and A1 by Moody's, in line with its corporate credit ratings. Joint lead managers and bookrunners for 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.
