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Thursday, July 18, 2024

Launch Partners

Ahli United Bank concludes world’s first sustainable Murabahah financing facility worth US$1.1 billion

KUWAIT: Ahli United Bank (AUB) has concluded a US$1.1 billion sustainable Murabahah financing facility, a bourse filing confirmed. The dual-tranched facility is the first of its type raised by a financial institution worldwide, according to the bourse filing. The three-year facility was upsized to US$1.1 billion from its original amount of US$750 million due to high demand.  

The pricing of the facility was linked to three key performance indicators, namely green financing, social housing financing and ESG governance integration. HSBC Bank acted as the sole coordinator, investment agent and initial mandate arranger for the transaction.

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