Abu Dhabi Islamic Bank (ADIB) is set to issue a dollar-denominated senior green sukuk following investor calls that were scheduled to start on Monday.

The Islamic lender has mandated Standard Chartered Bank as sole global coordinator and sustainability structurer, along with ADIB, Emirates NBD, First Abu Dhabi Bank and Sharjah Islamic Bank as joint bookrunners and joint lead managers for a global investor call that was slated on November 6.

The investor call will be followed by a series of fixed income investor calls and meetings in London on Tuesday, November 7, the bank said in a statement on the Abu Dhabi Securities Exchange (ADX) on Monday.

“A dollar-denominated rated senior Green sukuk offering will follow, subject to market conditions,” the lender said.

The offering will fall under ADIB’s Sustainable Finance Framework released last November 3. 

The framework establishes the criteria and eligibility requirements that determine which projects are labelled “sustainable”, “green” or “social”, with emphasis placed on initiatives that have environmental benefits and those that support social objectives.

The bank, rated A2 by Moody’s and A+ by Fitch, had issued a $750 million AT1 sukuk on the London Stock Exchange in July this year.

(Writing by Cleofe Maceda; editing by Brinda Darasha)