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Government-owned Abu Dhabi Future Energy Company (Masdar) has started selling dual-tranche green bonds of five and 10 years, fixed income news service IFR reported.
The initial price guidance for the 5-year debt sale has been placed around 130-135 basis points over US Treasuries, while the 10-year bond has an initial price of 140-145 BPS over the same benchmark, the IFR said.
The renewable energy firm will raise $500 million from the sale of each tranche under its $3 billion Euro Medium Term Note Programme, the IFR added.
Masdar is owned by state-controlled energy and utilities firm TAQA, Abu Dhabi sovereign wealth fund Mubadala and Abu Dhabi National Oil Company, which hold stakes of 43 per cent, 33 per cent and 24 per cent, respectively.
Proceeds from the dual-tranche debt sale, which will be priced later in the day, will be used to finance certain eligible green projects, IFR said. -Reuters