Middle East’s best ESG deal 2025

Emirates US$500 million sustainability-linked loan financing bond

In a market where ESG-linked instruments have proliferated, Emirates NBD’s $500 million five-year sustainability-linked loan bond (SLLB) stands apart as a landmark transaction that redefines the boundaries of sustainable finance in the Middle East and beyond. 

As the world’s first SLLB issued under the newly established ICMA/LMA framework released in September 2024, this instrument represents a significant evolution in how financial institutions can channel capital towards measurable sustainability outcomes. Priced in November 2024, with a five-year maturity, the senior unsecured bond achieved a coupon of 5.141%

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