Masdar Secures $600 Million Through Top-Rated Corporate Blue Bond Arabian Post
Arabian Post Staff -Dubai
Abu Dhabi renewable energy company Masdar has raised $600 million through its first blue bond, an AA-rated transaction described as the highest-rated publicly issued corporate blue bond worldwide.The five-year securities, rated AA- by S&P Global Ratings and Fitch Ratings, were issued under Masdar's $6 billion global medium-term note programme. Proceeds will finance or refinance eligible marine renewable energy projects under the company's updated Green Finance Framework.
Investor orders reached $1.4 billion, more than twice the offering size, enabling Masdar to narrow its borrowing spread to 115 basis points above US Treasury securities from initial guidance of about 130 basis points. The issue remained fixed at $600 million despite the demand.
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