The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral financial institution, has won ESG Bond Deal of the Year at the Bonds, Loans & Sukuk Middle East Awards.
The award will be formally presented to APICORP at the Bonds, Loans & Sukuk Middle East Awards ceremony, which is scheduled to take place on 8th June 2022 at the Madinat Jumeirah in Dubai, UAE alongside the annual Bonds, Loans & Sukuk Middle East conference.
Commenting on the win, Dr. Ahmed Ali Attiga, CEO of APICORP, said: “We are honored to receive such a prestigious award and are delighted that MENA region’s first-ever green bond issued by an energy-focused financial institution has been recognized in this way.
“APICORP is committed to developing innovative financial solutions that will create a more sustainable future, and we expect to allocate US $1 billion to green energy projects over the next two years.
“The bond, which was 3 times oversubscribed, has proven to be a resounding success, raising US $750 million from both regional and global investors, a reflection of the strong demand for sustainable investments both in MENA and beyond.”
The US-denominated five-year benchmark US $750m issuance will be utilized to fund projects that align with the United Nations Sustainable Development Goals, such as renewable energy, green buildings, pollution prevention and control, and low-carbon technologies and solutions.