The Commercial Bank of Dubai (CBD) is set to redeem a multimillion-dollar debt issuance and delist it from capital markets.

The bank said on Wednesday it has decided to exercise its “call option” on the $600 million bonds it had issued in 2020. The perpetual additional tier 1 capital securities will be redeemed on April 21, 2026.

Once the redemption is complete, CBD said it will request the cancellation of the bond listing on Euronext Dublin and Nasdaq Dubai.

The lender did not specify the reason for the bond redemption.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com