NBAD successfully priced the first ever Green Bond from the Middle East.

The 5-year transaction was capped at US$587million to align to the total amount of eligible green assets currently on NBAD's books

The Green Bond will be listed on the London Stock Exchange

Abu Dhabi, UAE 30 March 2017: National Bank of Abu Dhabi P.J.S.C. (NBAD), the largest UAE bank by assets, is pleased to announce that it successfully priced its debut US$587million 5-year Green Bond due 30 March 2022 (the “Notes”). This transaction is the first ever Green Bond from a Middle East issuer.

The Notes, which will be listed on the London Stock Exchange, priced at a spread of 98 basis points over mid-swaps and pay a coupon of 3% per annum. Issuance was capped to align with NBAD’s existing portfolio of green assets and the proceeds of the Notes will be directly used to fund or refinance environmentally eligible projects within NBAD's Green Bond Framework.

NBAD and HSBC acted as Joint Green Structuring Advisors for the Notes. NBAD, BofA Merrill Lynch, Citi, Credit Agricole CIB, HSBC and MUFG were Joint Lead Managers and Joint Bookrunners on the Green Bond.

Stephen Jordan, Group Treasurer of NBAD, said: “This is another landmark transaction for NBAD and the first ever Green Bond from the Middle East. It yet again demonstrates NBAD’s commitment to pursue innovative financing solutions and to broaden our global investor base.”

Andy Cairns, NBAD’s Global Head of Debt Origination & Distribution, commented “We are honoured to be Joint Green Structuring Advisor and Joint Bookrunner on this the first ever Green Bond from the Middle East. It illustrates that socially responsible investors are an increasingly relevant liquidity source and I am optimistic that this transaction will establish a blueprint for other Middle Eastern issuers to follow suit and issue Green Bonds and Green Sukuk

NBAD’s Green Bond is the latest example of the bank’s commitment to sustainable business. NBAD was one of the original signatories to the Dubai Declaration in October 2016, in conjunction with the UAE Ministry of Climate Change and Environment, which requires the financial sector to enable a climate-resilient, inclusive green economy. NBAD is also the only bank in the UAE to sign up to the Equator Principles, a voluntary framework for assessing environmental and social risks in projects to support responsible decision-making. Last year also saw NBAD ranked first in the S&P Hawkamah Pan Arab ESG Index, which measures the performance of publicly traded companies in terms of environmental, social and corporate governance.

For more information, please visit: www.nbad.com

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About NBAD
NBAD has one of the largest networks in the UAE, with 103 branches and cash offices and more than 520 ATMs across the country. NBAD’s growing international presence consists of 45 branches and offices in 17 countries stretching across five continents from the Far East to the Americas, giving it the largest global network among all UAE banks.

Since 2009, NBAD has been ranked consecutively as one of the World’s 50 Safest Banks by the prestigious Global Finance magazine, which also named NBAD the Safest Bank in the Emerging Markets and the Middle East.

 NBAD is rated senior long term/short term AA-/A-1+ by Standard & Poor's (S&P), Aa3/P1 by Moody’s, AA-/F1+ by Fitch, A+ by Rating and Investment Information Inc (R&I) Japan, and AAA by RAM (Malaysia) , giving it one of the strongest combined rating of any  Global  financial institution.

A comprehensive financial institution, NBAD offers a range of banking services including retail, investment and Islamic banking. NBAD grows strategically toward its vision to be recognised as the World’s Best Arab Bank.

For more information please visit our corporate webpage at: www.nbad.com.

© Press Release 2017