Emirates NBD lists $750mln conventional bond on Nasdaq Dubai

The raised proceeds will enable the bank to support its customers

  
A view of Emirates NBD head office in Dubai, UAE January 30, 2018. Image used for illustrative purpose.

A view of Emirates NBD head office in Dubai, UAE January 30, 2018. Image used for illustrative purpose.

REUTERS/Satish Kumar
Dubai – Emirates NBD has celebrated the listing of a five-year conventional bond worth $750 million on Nasdaq Dubai, marking the first public debt issuance from the UAE in 2021.

The raised proceeds will enable the bank to support its customers and the UAE economy's comprehensive recovery from the coronavirus (COVID-19) impact, according to a press release on Wednesday.

With a coupon of 1.638%, the lowest on a five-year benchmark transaction from the bank, the conventional bonds have attracted $2.3 billion in orders from more than 140 investors.

Emirates NBD had six listings valued at $4.35 billion on Nasdaq Dubai, making the bank the largest financial services bond issuer on the exchange.

The Vice Chairman and Managing Director of Emirates NBD, Hesham Abdulla Al Qassim, said: "As the UAE prepares for durable economic recovery from the disruption caused by COVID-19, we are delighted to play a role in promoting economic and social wellbeing in line with the effective policies of the national leadership."

Meanwhile, the Chairman of Nasdaq Dubai, Abdul Wahed Al Fahim, remarked: "The exchange is positioned to play a growing role in expanding Dubai’s capital markets leadership in the region and connecting a widening range of issuers and investors."

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Markets