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Mubadala issues its first green bond of 750 million dollars – News

The issue sees strong market demand as oversubscription peaks at 9.1 times.

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by WAM

Published: Friday, October 27, 2023, 8:53 p.m.

Mubadala has issued its first green bond for $750 million with a tenor of 10.5 years, with a yield of 6.03 percent and a coupon of 5.875 percent. The issue had strong market demand.

Order books peaked at over $6 billion with strong demand from local, European, Asian and US accounts.

Oversubscription reached a maximum of 9.1x with one of the most oversubscribed issues during 2023.

The transaction further diversified Mubadala’s debt investor base by attracting new investors, as a large proportion of the demand came from new investors who had never invested in Mubadala bonds.

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Proceeds will be invested in categories aligned with the Green Finance Network.

This bond issuance highlights Mubadala’s commitment to responsible investment ahead of COP28 later this year.

Carlos Obeid, Chief Financial Officer of Mubadala Investment Company, said: “Responsible investing has been at the heart of Mubadala’s operating model since its inception and remains fundamental to our investment approach today. Mubadala partners with governments, businesses, peer investors and industry “Leaders from around the world to help find solutions to global challenges. The depth, diversity and strength of the order book for our first Green Bond further validates our ability to leverage debt markets through economic cycles and in various economic conditions.”

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