Zawya
Summary
Tabreed announced the successful raising of USD 700 million via an inaugural, five-year green sukuk – the first issuance under its new USD 1.5 billion trust certificate issuance programme. The new sukuk will be listed and traded on London Stock Exchange’s International Securities Market.
Following the sukuk announcement, Tabreed’s Chief Executive Officer, Khalid Al Marzooqi, said: “Tabreed’s enviable reputation is built on the foundations of sustainability and operational excellence, so this, our first green sukuk, is perfectly aligned with our existing business while focussing on new developments.
“The UAE has an ambitious roadmap for net-zero and we are proud at Tabreed to play a vital role in preventing large scale carbon emissions while enabling societal progress through sustainable district cooling. The importance this company attaches to ESG cannot be overstated and our investors know that the energy transition, of which we are at the very centre, is not only good for the environment but good for business, too.”
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