CBD pulls the trigger on its debut green bond issuance: The Commercial Bank of Dubai has raised USD 500 mn through its inaugural green bond issuance, according to a statement. The five-year bond, which held a coupon rate of 5.319%, was priced at 140 basis points (bps) over US Treasuries, with the issuance generating “substantial interest from investors following a well-received global road show.”

Where the proceeds are going: The proceeds from the inaugural issuance will be “exclusively allocated to financing projects adhering to the criteria outlined in CBD's Sustainable Finance Framework,” the bank said. Those include renewable energy, green buildings, clean transportation, and pollution prevention and control, it said, adding that the framework comes in line with the UN Sustainable Development Goals.

REMEMBER- The UAE wants to stimulate green debt issuances: The UAE said it would be axing registration fees for firms issuing green debt instruments — including sukuk and traditional climate-aligned bonds — in 2023 to support funding for climate-friendly projects last week.