FIVE Holdings enters Nasdaq Dubai with $US350 million Green Bond listing
Summary
This listing marks a significant moment for FIVE, making it their first appearance on the regions international financial exchange.The issued Green Bond, featuring a coupon rate of 9.375 percent, amounts to US$350 million, with maturity set for 2028. They were accompanied by other members of the FIVE groups senior leadership to mark the companys first issuance on the regions international financial exchange solidifying the groups remarkable achievements.What it means for the companyIt is noteworthy that FIVE is the worlds only company to receive an A rating for ESG within the ISS Corporate Rating universe. The companys Green Finance Framework, validated by an ISS Second Party Opinion, received Aligned, Consistent, and Positive remarks. FIVEs governance practices, evaluated as part of its world-leading ESG rating, achieved A+ for Code of Business Ethics and A+ for Compliance Proceduresthe highest marks possible.Kabir Mulchandani, chairman and founder, FIVE said: We delivered an unprecedented year of success in 2022, driven by the acceleration of our growth strategies which achieved a robust EBITDA margin [42 per cent] and secured world-class sustainability milestones [A rating for ESG by ISS].FIVE understands that value creation for stakeholders is essential to sustainable development, which drives our commitment to outstanding EBITDA figures and environmental responsiveness. FIVEs debut Green Bond listing underscores Nasdaq Dubais position as a leading exchange for sustainable finance in the region.