First Abu Dhabi Bank (FAB), rated Aa3 by Moody’s, AA- by S&P, and AA- by Fitch (all with stable outlooks), has mandated banks to arrange a series of ESG-focused fixed income investor calls today. This marks the first GCC mandate of the month, ahead of a busy post–US Labor Day issuance window.

A benchmark size fixed rate USD-denominated Regulation S only senior 5-year Low-Carbon Energy Bond offering under FAB’s $20 billion Euro Medium Term Note Programme will follow.

The UAE’s largest bank by assets has mandated Bank of China, Barclays, Citi, Crédit Agricole Corporate and Investment Bank, First Abu Dhabi Bank, HSBC and Standard Chartered Bank as Joint Lead Managers and Bookrunners.

Proceeds will be used exclusively to refinance Eligible Nuclear Power Generation Projects in line with FAB’s Sustainable Finance Framework.

Crédit Agricole Corporate and Investment Bank is acting as Sole Sustainability Structuring Advisor. FCA/ICMA stabilization applies.

Last week, FAB issued a HKD 390 million ($50 million) 5-year Blue Bond, marking the first-ever Blue Bond issued by a financial institution in the Gulf countries.

The bond, issued via a private placement, was anchored by a 'Dark Green' investor, who was seeking specific blue labelled instrument. The Blue Bond is aligned with FAB’s Sustainable Finance Framework 2023, and International Capital Market Association Green Bond Principles, according to a statement.

FAB was supported by Crédit Agricole Corporate and Investment Bank as Sole Dealer.

(Writing by Seban Scaria seban.scaria@lseg.com ; editing by Daniel Luiz)