White & Case represented Commercial Bank of Dubai in the issuance of Inaugural Green Bond

White & Case represented Commercial Bank of Dubai in the issuance of Inaugural Green Bond

The proceeds will be utilized to fund projects that align with Sustainable Finance Framework

Global law firm White & Case has provided legal counsel to HSBC and Standard Chartered Bank in relation to the US$500 million green bond issuance by Commercial Bank of Dubai (CBD), a prominent Emirati banking and financial services corporation.

While HSBC and Standard Chartered Bank worked as global coordinators, Citigroup, Emirates NBD, First Abu Dhabi Bank, J.P. Morgan, and NATIXIS served as joint lead managers.

The proceeds generated from the green bond issuance will be exclusively utilized to fund projects that align with CBD’s Sustainable Finance Framework. The projects will prioritize areas including renewable energy, green buildings, clean transportation, and pollution prevention and control.

Headquartered in Dubai, Commercial Bank was established in 1969 as a Public Shareholding Company. It is listed on the Dubai Financial Market and is primarily owned by UAE nationals, including a 20 percent ownership by the Investment Corporation of Dubai (ICD).

With the issuance of green bonds, CBD demonstrates its commitment to sustainable financing and contributes to advancing environmental-friendly initiatives.

The White & Case team involved in the transaction was led by partner Debashis Dey (Dubai & London). It included associates Marcin Zawadzki, Ola Sanni, and Amir Mehdizadeh Iranpour (Dubai).