Masdar raises $600m in its first blue bond

Abu Dhabi Future Energy Company (Masdar) announced its first blue bond, worth $600 million with a five-year tenor, under its global medium-term note programme.

Blue bonds finance projects linked to protecting and sustaining water and marine resources, an emerging category of sustainable finance alongside green bonds.

Masdar was founded in Abu Dhabi in 2006 and has become one of the world's leading renewable energy companies, with projects in dozens of countries.

The issue strengthens Abu Dhabi's position in sustainable finance and reflects investor appetite for climate- and sustainability-linked instruments.