Fintech PR
UAE flagship renewable energy company Masdar launches first US$750 million 10-year Green Bond
- Net proceeds will be used to invest exclusively in new clean energy projects in connection with the company’s Green Finance Framework
- The debut green bond was 5.6x oversubscribed demonstrating investor confidence in Masdar’s financial strength and its 17 years of sustainability credentials
- Offering is part of the UAE clean energy champion’s long-term plan to raise up to US$3 billion for new renewable energy projects
ABU DHABI, UAE, July 19, 2023 /PRNewswire/ — Abu Dhabi Future Energy Company PJSC – Masdar announced the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes today. There was exceptionally strong appetite from regional and international investors with the orderbook peaking at US$ 4.2bn, i.e. oversubscription of 5.6x. Pricing tightened 35bps between launch and final terms, with a final landing spread of 115bps over US Treasuries and a coupon of 4.875%. Allocation was finalized with a split of 87.5% to international investors and 12.5% to MENA investors.
The debut green bond demonstrates investor confidence in the financial strength of Masdar, which has credit ratings of A2 (Moody’s) and A+ (Fitch), and its strong sustainability credentials. In line with Masdar’s Green Finance Framework, net proceeds from this bond and future offerings will be used to invest exclusively in ‘dark green’ renewable energy projects, many of which will be in developing economies and climate-vulnerable countries that have a critical need for investment.
This bond is the first part of a program to raise up to US$3 billion of bonds to meet Masdar’s equity funding commitments on new renewable energy projects at home and overseas, as it seeks to grow its global portfolio to 100GW of capacity by 2030. Proceeds from all bond offerings under the program will be deployed towards the greenest projects in the renewables sector, namely solar, wind, renewable power transmission and distribution infrastructure, and battery storage assets, and strict ESG criteria will apply to restrict the eligibility of projects.
HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President-Designate, said, “It is vital to make finance more available, accessible and affordable for developing economies if we have any chance of meeting climate goals to supercharge sustainable development. Ahead of the UAE hosting the UN climate change conference, COP28, we must champion initiatives that advance climate finance and decarbonization. Today, the successful issuance of Masdar green bonds will support these twin aims, by helping to provide funding towards renewable energy projects where they are needed most.”
Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer, said, “The success of this debut green bond issuance is testament to the pioneering spirit of all the people who have worked incredibly hard over the last 17 years to grow Masdar into one of the world’s leading renewable energy companies. We are thankful for the trust that the financial community has placed in us and we look forward to the involvement of many top class investors in our journey towards delivering renewable energy and accelerating the net-zero transition around the globe.”
Niall Hannigan, Masdar’s Chief Financial Officer, commented, “The proceeds from our inaugural bond offering will be deployed in developing new renewable energy projects around the world. These projects will make a major contribution towards mitigating climate change, but they will also make a real difference to the local communities they serve, and that makes us incredibly proud. We remain committed to maintaining a prudent approach to funding our ambitious growth plans, which includes maintaining our investment grade credit ratings from Fitch and Moody’s.”
The bond was rated A2 by Moody’s and A+ by Fitch, in line with the corporate credit ratings of the company, and was priced at a coupon rate of 4.875% with maturity on 25 July 2033.
The issuance was arranged and offered through a syndicate of joint lead managers and bookrunners comprising of BNP Paribas, Citi, First Abu Dhabi Bank, HSBC, SMBC Nikko, Société Générale and Standard Chartered.
Masdar’s Green Finance Framework, established in February 2023, was updated in May 2023 to reflect changes to the Green Loan Principles. Moody’s has issued a Second Party Opinion on the Green Finance Framework.
Established in 2006, Masdar is the UAE’s clean energy powerhouse. It is active in over 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of around 20GW. Masdar aims to grow this to at least 100GW by 2030. The company is also targeting green hydrogen production of 1 million tonnes per annum by the same year.
Contacts:
For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar
About Masdar
Abu Dhabi Future Energy Company (Masdar) is the UAE’s clean energy champion and one of the largest companies of its kind in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar is today active in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year.
This material is distributed by Daniel J. Edelman, Inc. on behalf of Masdar. Additional information is available at the Department of Justice, Washington, DC.
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DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
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Fintech PR
Healthcare leaders gather at House of Commons to discuss productivity-boosting tech with MyStaff app
LONDON, Nov. 15, 2024 /PRNewswire/ — Healthcare leaders from 16 NHS trusts gathered at the House of Commons this week to see how Mid and South Essex NHS Foundation Trust is using a groundbreaking new app that transforms staff access to information vital to their patients’ care.
The MyStaff app uses AI and automation to simplify the management of critical policies and procedures, reducing the time staff spend searching for information from almost 10 minutes to under 30 seconds. Over 12,000 of the Trust’s staff have signed up, and around 1,000 are using the app daily.
With £2bn pledged to help digitise the NHS and bring down waiting lists, such time-saving tech is high on healthcare’s agenda. Trust Chief Executive Matthew Hopkins introduced the session, which was hosted by David Burton-Sampson, MP for Southend West and Leigh, and saw technology strategists and users share their experiences of digitising vital healthcare operations.
Matthew said: “Our Trust is working to make the best use of digital technologies wherever this can help staff to provide the best possible care to our patients. MyStaff app is a versatile and easy-to-use tool that improves our governance processes and makes it easy for staff to access the vital clinical information they need when treating patients.”
The Trust developed MyStaff app with digital innovators Diligram, who have created a digital governance solution that helps ensure staff use the latest policies and guidance when delivering patient care. Document compliance rates have grown from 60% to 98%, whilst projections indicate the app could release 55,000 hours’ worth of staff capacity over 3 years, worth almost £4m in staff costs and giving staff more time on patient-facing care.
Diligram CEO Leslie Golding said: “We have worked closely with the Trust on developing groundbreaking technology that supports our healthcare heroes by simplifying access to essential information. We’re proud to be part of this brilliant example of positive digital change.”
Editor’s notes
- Contact: Rob Benson, 07815098560, [email protected]
- Further images, interviews, site visits available
About MyStaff app
The MyStaff app from digital transformation company Diligram is time-saving tech that offers a mobile-first digital corporate governance solution for healthcare providers.
Web: mystaffapp.io
About Mid and South Essex NHS Foundation Trust
MSE is one of the largest Trusts in the country, serving around 1.2million people. Our values are about delivering excellent, compassionate and respectful care.
Web: mse.nhs.uk
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BEIJING, Nov. 15, 2024 /PRNewswire/ — On November 14, 2024, ThunderSoft (Stock Code: 300496), a world leading OS and intelligent device products and technology provider, and HERE Technologies, the leading location data and technology platform, announced a strategic partnership to enhance collaboration in intelligent navigation and high-definition maps. The collaboration aims to support the efficient development of navigation systems, contributing to a more connected and intelligent mobility ecosystem.
The agreement will see both companies maximize their technical strengths and platform resources for comprehensive, multifaceted cooperation. ThunderSoft’s Aqua Drive OS will integrate HERE location data and services, including HERE SDK, HD Map and autonomous driving solutions. These AI-powered elements, create a foundation for developers worldwide to build intelligent system platforms. Additionally, the partnership will deliver tailored intelligent navigation solutions for international markets, addressing the diverse requirements of automotive manufacturers and consumers.
The companies will also collaborate to develop immersive and interactive 3D high-definition mapping solutions by combining HERE’s map data with ThunderSoft’s Kanzi Map engine, establishing a new benchmark in intelligent driving and navigation.
Deon Newman, Senior Vice President and General Manager of HERE Technologies said, “This strategic partnership with ThunderSoft represents a transformative step in delivering on the potential of AI and software-defined vehicles. By uniting our best-in-class location technology with ThunderSoft’s advanced system capabilities, we will together deliver greater insight and intelligence to every journey, empowering our clients to create richer, more personalized experiences for their customers worldwide.”
Hengshang Chang, Executive President and President of SmartVehicle Business Group of ThunderSoft, highlighted the strategic importance of the collaboration, “Our collaboration with HERE holds immense significance. By integrating HERE’s map data and location platform capabilities with ThunderSoft’s pioneering vehicle OS technology, we aim to develop more competitive, globally-oriented intelligent navigation systems for the automotive industry, enabling automakers to achieve accelerated growth.”
About HERE Technologies
HERE has been a pioneer in mapping and location technology for almost 40 years. Today, HERE’s location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. Find out how HERE is moving the world forward at here.com.
About ThunderSoft
ThunderSoft, a well-known intelligent operating system products and technologies provider, has been continuously accumulating and innovating in the operating system field, with its business expanding gradually from smart phone to smart vehicle, AIOT and smart industries. Website: https://en.thundersoft.com
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