March 30, 2017 / 10:51 AM / 4 months ago

National Bank of Abu Dhabi raises $587 million in green bond debut

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LONDON, March 30 (Reuters) - The National Bank of Abu Dhabi has issued the Gulf region's first green bond, raising $587 million for projects to fight climate change, the London Stock Exchange (LSE) said on Thursday.

Proceeds from so-called green bonds help to finance projects in renewable energy, energy-efficiency, green transport and waste water treatment.

"London Stock Exchange today welcomes the listing of the first ever green bond from the Gulf region, issued by National Bank of Abu Dhabi," the exchange said in a statement.

"(The bank) is spearheading the potential to unlock and promote green finance across the Middle East region," Darko Hajdukovic, head of fixed income of funds and analytics at London Stock Exchange, said.

The five-year bond is listed on the LSE.

Global green bond issuance could reach $125-150 billion this year as demand for low-carbon infrastructure investment continues, Swedish banking group SEB said on Thursday.

Reporting by Nina Chestney. Editing by Jane Merriman

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