Majid Al Futtaim raises USD 1.25 billion linked to ESG goals
What: The Emirati retail conglomerate Majid Al Futtaim (MAF) stated that it had raised 1.25 billion dollars a revolving credit facility linked to the company’s environmental, social and governance goals.
Why it is important: The loan aims to cut MAF's Scope 1 and 2 emissions and implement LEED certification for its malls.
First Abu Dhabi Bank led the fund raising, the conglomerate's second sustainability-linked loan, as sustainability coordinator and agent. In June, MAF raised USD 500 million with perpetual green bonds, refinancing existing hybrid bonds.
Majid Al Futtaim raises USD 1.25 billion linked to ESG goals
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