World Economy

First Mideast Green Bond

First Mideast Green BondFirst Mideast Green Bond

The National Bank of Abu Dhabi plans to start an investor roadshow next week to issue a benchmark-sized green bond, the proceeds of which would be used to invest in renewable energy, sources familiar with the matter said on Thursday, Reuters reported. So-called “green bonds” have become an increasingly popular source of borrowing for emerging market banks, especially those from India and China, but the sources said NBAD’s five-year issue would be the Middle East’s first green bond. NBAD has mandated Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi, Credit Agricole, Citi, HSBC and its own debt capital markets team to arrange the issue, the sources said.