APICORP Green Bond Wins ESG Bond Deal of the Year

Press release

Published April 26th, 2022 - 08:13 GMT

Arab Petroleum Investments Corporation APICORP

Highlights

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.

Background Information

Arab Petroleum Investments Corporation APICORP

The Arab world’s energy wealth is undoubtedly one of its greatest economic strengths. These resources represent enormous value but they cannot create economic growth without strong institutions that actively work to advance innovation, efficiency, and value creation.

APICORP was created by the Organisation of Arab Petroleum Exporting Countries (OAPEC) in 1975 as a commercially-focused financial institution that can help provide nuanced and efficient financing options to the Arab energy industry. Over the last four decades, APICORP has worked to raise capital access and enhance the financial stability and performance of the Arab energy industry through an array of strategic equity investments, project loans, trade finance, advisory and research.