ADX welcomes Masdar’s secondary listing of debut green bond: UAE state-owned renewable energy giant Masdar has marked the secondary listing of its debut USD 750 mn green bond in the Abu Dhabi Securities Exchange (ADX), according to a press release (pdf). The 10-year bond — which carries a 4.875% coupon rate with a maturity date of July 2033 — will fund new clean energy projects, the statement notes.

About the debut sale: Masdar raised USD 750 mn from its debut green bond issuance in July, netting over USD 4.2 bn in demand from regional and international investors. Net proceeds from this bond and other future offerings will be used to invest exclusively in “dark green” renewable energy projects, with most earmarked for developing economies and climate-vulnerable countries, it said at the time.

We knew this was coming: The renewables company said it was planning a secondary listing of its green bond offering on the ADX last August as it marked the offering on the London Stock Exchange. It said at the time that proceeds from all bond offerings under its ambitious program will be directed towards projects including solar, wind, renewable power transmission and others.

A green bond listing bonanza ahead of COP28? ADX highlighted a rise in the number of green bond listings this year ahead of COP28, the statement notes. The stock exchange welcomed the Abu Dhabi National Energy Company’s (Taqa) secondary listing of its USD 1.5 bn dual-tranche green bond last month, and earlier this year the Sweihan PV Power Company completed its secondary listing of USD 700 mn in green bonds.