#UAE Energy Producer Masdar to Borrow Up to $1 Billion With Second Green Bond - Bloomberg

UAE Energy Producer Masdar to Borrow Up to $1 Billion With Second Green Bond - Bloomberg

Masdar, a major operator of solar power plants in the United Arab Emirates, is planning to raise as much as $1 billion through its second offering of green bonds, after borrowing $750 million earlier this year.

The company will likely issue more green bonds in the next six to nine months, potentially in the US, Chief Financial Officer Niall Hannigan said in an interview on Wednesday in New York. The prospective issuance is part of its plan to raise at least $3 billion to fund clean energy projects, he added.

“$750 million to $1 billion is probably where we’re looking,” said Hannigan. “We think that fits about right but that will be something that we will assess at that time.”

Ultimately, the size of future deals will depend on the pipeline of projects that it needs to fund and how much it can afford to borrow given its credit rating, Hannigan said. The company is rated A2 by Moody’s Investors Service and A+ by Fitch Ratings Inc.