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- Emirates NBD is largest conventional bond issuer on the exchange with 8 issuances valued at USD 5.28 billion
Dubai: Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, one of the region’s leading banks, rang the market-opening bell today at Nasdaq Dubai to celebrate the listing of a one billion US dollar conventional bond.
The capital raised by the issue supports Emirates NBD’s regional and international business across diverse services including retail, wholesale and investment banking, private banking, asset management, global markets & treasury and brokerage operations and Islamic banking.
Emirates NBD is the largest issuer of conventional bonds on Nasdaq Dubai with a total nominal value of 5.28 billion US dollars from eight listings.
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD said: "As we make use of long-term funding opportunities to further develop our banking services for businesses and individuals, our strong links with Nasdaq Dubai provide us with a high international profile and excellent regulatory framework for our bonds. Our latest issuance was well received by a wide range of investors across Europe, Asia and the Middle East, demonstrating their confidence in the ongoing performance of Emirates NBD.”
His Excellency Essa Kazim, Governor of Dubai International Financial Centre and Chairman of Dubai Financial Market, said: “The listing of Emirates NBD’s latest bond demonstrates the commitment of Dubai’s leading financial services institutions to collaborate for their common benefit, by making effective use of the region’s capital markets. Dubai will continue to enhance its listing infrastructure on behalf of UAE and overseas issuers and investors.”
The total value of all conventional bonds listed on Nasdaq Dubai has now reached 18.08 billion US dollars. Dubai is also the largest centre in the world for listed Sukuk by value at 59.39 billion US dollars.
Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said: "Nasdaq Dubai is delighted to support the capital-raising requirements of Emirates NBD as part of our commitment to facilitating the expansion and development of leading institutions that benefit the public and
the economy. As the region’s international financial exchange, we will look forward to further bond listings from a range of private and public sector issuers.”
Shayne Nelson, Group CEO of Emirates NBD, said: "We were extremely pleased with the international investor demand for our latest public issue, with two-thirds of the issue placed outside the MENA region. We find the listing process on Nasdaq Dubai straightforward and investors can take comfort from the ongoing regulatory requirements of listing on Nasdaq Dubai.”
Hamed Ali, Chief Executive of Nasdaq Dubai, said: "Our exchange infrastructure and the global visibility that we provide are well positioned to support Emirates NBD as the bank further develops its mission as a major provider of financial services to corporate and individual clients. We look forward to strengthening our longstanding relationship with the Emirates NBD Group, whose activities on Nasdaq Dubai cover equities brokerage services as well as issuance.”
Emirates NBD’s latest bond listed on Nasdaq Dubai on March 20, 2019.
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About Emirates NBD
Emirates NBD is a leading banking Group in the region. As at 31st December 2018, total assets were AED 500.3 Billion, (equivalent to approx. USD 136 Billion). The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank was declared the Most Innovative Financial Services Organization of the Year at the 2017 BAI Global Innovation Awards.
The bank currently has 230 branches and 1069 ATMs and SDMs in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand. It is a major player in the UAE corporate and retail banking arena and has strong Islamic Banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.
The Group has operations in the UAE, the Kingdom of Saudi Arabia, Egypt, India, Singapore, the United Kingdom and representative offices in China, Indonesia and Turkey.
The Group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai. For more information, please visit: www.emiratesnbd.com
About Nasdaq Dubai
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS).
The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
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