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Abu Dhabi solar firm Sweihan takes orders for green bonds

January 14, 2022
oil and gas

Investors will receive semi-annual payments starting July 31 and the bonds

DUBAI- Abu Dhabi solar energy firm Sweihan PV Power Company gave initial price guidance of around 3.875% for amortising green bonds, through which it aims to raise around $728 million, a bank document showed on Thursday.

Investors will receive semi-annual payments starting July 31 and the bonds, which will fund spending linked to the Noor Abu Dhabi solar plant, will likely have a weighted average life of 15 years, a document from one of the banks showed.

Citi is lead global coordinator on the debt issue, expected to launch on Thursday, while HSBC and MUFG join it as joint global coordinators.

BNP Paribas, First Abu Dhabi Bank and SMBC Nikko are joint lead managers and bookrunners.

zawya

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