Abu Dhabi Islamic Bank has raised $500 million through the issuance of Sharia-compliant green bonds as the biggest Islamic lender by assets in the emirate continues to diversify its funding base, advance sustainable solutions and address climate change challenges.
ADIB priced the five-year senior sukuk at a profit rate of 5.695 per cent per annum payable semi-annually and will be listed and traded on London Stock Exchange’s International Securities Market and Sustainable Bond Market, the Abu Dhabi-listed lender said in a statement on Wednesday.
The deal, which attracted interest from more than 100 global and regional investors, was 5.2 times oversubscribed as the final order book closed at $2.6 billion.
ADIB aims to allocate an amount equal to the net proceeds of this issuance to fund green projects to accelerate the climate transition.
The initiatives will include the financing or refinancing of green projects as well as financing customers for eligible green projects as described under the eligibility criteria in the ADIB Sustainable Finance Framework, the lender said.
“This is an important step in our sustainability journey and will further expand the bank’s role in catalysing capital to address the pressing environmental and social issues facing society today,” said Nasser Al Awadhi, ADIB group chief executive.
“The overall success of this sukuk can be attributed to ADIB's clear ESG [environment, social and governance] framework and our strong track record of both growing market share and delivering sustainable returns.”
ADIB, which is rated A2 by Moody’s and A+ by Fitch, with a stable outlook, said the issuance was driven by demand across three regions. The final allocations stood at 78 per cent to Middle East and North Africa, 13 per cent to Europe and 9 per cent to Asia and the US.
By investor type, private banks subscribed to 26 per cent of the total allocation while asset and fund managers accounted for 17 per cent, commercial banks for 42 per cent and other investors for 16 per cent.
Standard Chartered Bank was the global co-ordinator and sustainability structuring agent for the deal, while ADIB, Emirates NBD, First Abu Dhabi Bank and Sharjah Islamic Bank acted as joint lead managers and bookrunners.
In July, ADIB also raised $750 million through the issuance of Sharia-compliant bonds.
In October, the lender reported a 41 per cent annual surge in its third-quarter net profit to Dh1.42 billion ($386 million). Gross revenue from funds for the period rose 89 per cent year-on-year to Dh2.4 billion, while investment income jumped 35 per cent to Dh246 million.
Stage result
1. Pascal Ackermann (GER) Bora-Hansgrohe, in 3:29.09
2. Caleb Ewan (AUS) Lotto-Soudal
3. Rudy Barbier (FRA) Israel Start-Up Nation
4. Dylan Groenewegen (NED) Jumbo-Visma
5. Luka Mezgec (SLO) Mitchelton-Scott
6. Alberto Dainese (ITA) Sunweb
7. Jakub Mareczko (ITA) CCC
8. Max Walscheid (GER) NTT
9. José Rojas (ESP) Movistar
10. Andrea Vendrame (ITA) Ag2r La Mondiale, all at same time
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Director: Raed Zeno
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Results
UAE beat Saudi Arabia by 12 runs
Kuwait beat Iran by eight wickets
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Bahrain beat Qatar by six wickets
Semi-finals
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6.30pm: Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
Winner: Brraq, Adrie de Vries (jockey), Jean-Claude Pecout (trainer)
7.05pm: Handicap (TB) Dh102,500 (D) 1,200m
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7.40pm: Handicap (TB) Dh105,000 (Turf) 1,800m
Winner: Eqtiraan, Connor Beasley, Ali Rashid Al Raihe.
8.15pm: UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
Winner: Soft Whisper, Pat Cosgrave, Saeed bin Suroor.
9.50pm: Handicap (TB) Dh105,000 (D) 1,600m
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9.25pm: Handicap (TB) Dh95,000 (T) 1,000m
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Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Kill%20
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The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
T20 World Cup Qualifier fixtures
Tuesday, October 29
Qualifier one, 2.10pm – Netherlands v UAE
Qualifier two, 7.30pm – Namibia v Oman
Wednesday, October 30
Qualifier three, 2.10pm – Scotland v loser of qualifier one
Qualifier four, 7.30pm – Hong Kong v loser of qualifier two
Thursday, October 31
Fifth-place playoff, 2.10pm – winner of qualifier three v winner of qualifier four
Friday, November 1
Semi-final one, 2.10pm – Ireland v winner of qualifier one
Semi-final two, 7.30pm – PNG v winner of qualifier two
Saturday, November 2
Third-place playoff, 2.10pm
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At a glance
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Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The specs
Engine: 5.0-litre V8
Power: 480hp at 7,250rpm
Torque: 566Nm at 4,600rpm
Transmission: 10-speed auto
Fuel consumption: L/100km
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The 12 Syrian entities delisted by UK
Ministry of Interior
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General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
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General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
Results
2pm: Maiden (PA) Dh 40,000 (Dirt) 1,200m, Winner: AF Thayer, Tadhg O’Shea (jockey), Ernst Oertel (trainer).
2.30pm: Maiden (PA) Dh 40,000 (D) 1,200m, Winner: AF Sahwa, Nathan Crosse, Mohamed Ramadan.
3pm: Handicap (PA) Dh 40,000 (D) 1,000m, Winner: AF Thobor, Szczepan Mazur, Ernst Oertel.
3.30pm: Handicap (PA) Dh 40,000 (D) 2,000m, Winner: AF Mezmar, Szczepan Mazur, Ernst Oertel.
4pm: Sheikh Hamdan bin Rashid Al Maktoum Cup presented by Longines (TB) Dh 200,000 (D) 1,700m, Winner: Galvanize, Nathan Cross, Doug Watson.
4.30pm: Handicap (PA) Dh 40,000 (D) 1,700m, Winner: Ajaj, Bernardo Pinheiro, Mohamed Daggash.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
