QNB Qatar Group issues $ 600 million in green bonds

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The Qatari Banking Group QNB announced the issuance of green bonds worth $ 600 million, according to the group’s statement published on the Qatar Stock Exchange website today.

What are green bonds?

Green bonds are debt instruments whose proceeds are directed to finance environmentally friendly projects and activities. Green bonds are considered an appropriate way to finance agricultural projects that avoid chemicals and manufactured materials, or economic projects related to clean energy and avoid emissions that are harmful to the environment.

the details

(As per today’s statement)

The green bond issued by QNB is the first green bond issued by a Qatari bank.

It has a maturity of 5 years and is listed on the London Stock Exchange.

The volume of subscription for it exceeded $ 1.8 billion, which means that the issue was well received by investors.

Background on QNB

(According to the group’s official website)

It was established in 1964 as the first Qatari commercial bank, and the Qatar Investment Authority – governmental – owns 50% of the group’s capital.

The group owns stakes in a number of banks, including:

QNB Finance Bank of Turkey, QNB Al-Ahly of Egypt, The Housing Bank for Trade and Finance of Jordan, the UAE Commercial International Bank, QNB Tunisia, Al-Mansour Bank of Iraq, QNB Syria, and QNB Indonesia.

The group is present in 31 countries, including: Kuwait, Vietnam, Myanmar, India, China, France, and the United Kingdom.

(Prepared by: Muhammad Al-Hayek. Muhammad previously worked in several institutions, including the Kuwaiti newspaper Al-Rai and the Lebanese satellite channel, Future News)

(Editing by Yasmine Saleh, for contact: [email protected])

Zawya Arabi covers economic news and analysis on the Middle East and the Arabian Gulf, and uses simple Arabic.

© ZAWYA 2020

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