A banking document showed today, Wednesday, that the Dubai Commercial Bank is expected to raise $500 million through the issuance of green bonds, which have been set at an initial target price of about 175 basis points above US Treasuries.

A document released by one of the banks working on arranging the issuance says the price of the five-year bond will be announced later today, Wednesday.

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Last Monday, a banking document showed that the Dubai Commercial Bank had instructed banks to arrange the first issuance of green bonds denominated in dollars.

The document released by the bank showed that Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, Natixis and Standard Chartered will hold investor consultations on the proposal on Monday and Tuesday.

This will be followed by a record-breaking 5-year bond issue, typically at least $500 million, depending on market conditions.

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Irene Diaz is a celebrity news reporter who started her career as a TV News Reporter. She then progressed into fashion & beauty reporting and eventually jumped from TV to the web, where she worked as a Senior Editor at 24PalNews. Irene believes that if she can, so can you. She’s a firm believer that anything is possible. Her motto is, “It’s all about believing.”

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