Sale of NBAD’s first green bonds in Mideast starts

National

Bank of Abu Dhabi is selling the Middle East’s first green bond, where proceeds must be used to fund environmental projects, as governments in the region look to curb dependence on oil for their energy needs.

The state-owned lender is giving price guidance on the five-year securities of 105 basis points over the midswap rate with a final price likely today, according to two people with knowledge of the plan who asked not to be named because the information is private. (Bloomberg)